Employer Mandate Delayed until 2015
On July 2, the Treasuary Department announced that the implementation of the employer mandate under the Affordable Care Act will be delayed until 2015.
If you are a large employer, this is good news since it gives you more time to prepare for this requirement. However, it appears that this change only applies to the employer mandate provision of the law.
Here are some things that are still on track for implementation.
- Health Insurance Market Reforms - All fully insured individual & group health insurance will be guaranteed issue next year with no pre-existing condition clauses.
- The Health Exchange/Marketplace with premium subsidies for eligible individuals.
- The requirement for individuals to have qualified health insurance or face penalties.
- The employer "Exchange Notice Requirements" by October 1, 2013.
- The implementation of various new fees/taxes such as the Health Insurance Industry Fee, Reinsurance Assessment Fee, Patient Centered Outcomes Research Institute (PCORI) Fee, Exchange User Fee, & Risk Adjustment Fee.
This announcement will take some of the heat off, however, employers should still be making plans to be prepared for the full implementation of the law.
Getting the Word Out
I've been busy spreading the word about how health care reform will affect both individuals and employers.
On 6/27, I did a internet radio interview on blogtalkradio with William Bell on on the same topic. Click here if you'd like to here this interview.