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Treasury Department Delays Employer Shared Responsibility and Insurer Reporting Requirements by One Year
Friday, July 5, 2013 5:35 AM

The Obama Administration has reportedly postponed the employer shared responsibility mandate and insurer reporting requirements for one year. As a result of the delay, any employer shared responsibility payments will not apply until 2015.

The delay is reportedly based on the Administration’s recognition that the insurer reporting requirements – the steps businesses have to take to show they are complying with the rules — were complex. The reporting requirements are necessary to determine which employers would have been subject to an employer shared responsibility penalty. The Administration recognizes that it would be impractical for the employer mandate to go into effect before the reporting requirements are in place.

If you are a large employer with more than 50 full-time or full-time equivalent employees that would have been subject to the employer shared responsibility mandate – to offer 95 percent of your full-time employees minimum essential coverage that is both affordable and meets minimum value, or face a penalty – you will not be subject to a penalty in 2014 if you don’t provide the coverage.

The delay does not affect the individual mandate – the requirement that most Americans maintain insurance as of Jan. 1, 2014.

Click here to read Treasury’s blog post regarding the delay.