Mid-size employers have an additional year’s time before they must provide health insurance to qualifying employees under the Affordable Care Act.
Businesses with between 50-99 employees are not required to offer health insurance to full-time workers until 2016, according to a senior official with the Obama Administration, reports the Washington Post.
Last July, implementation of the Affordable Care Act’s so-called “Employer Mandate” was pushed back from its initial January 2014 start date to next year. Many senior living companies have already begun preparing for 2015, with experts not expecting the Obama Administration to grant another delay.
Companies with 100 or more employees are still required to begin offering health insurance coverage beginning in 2015. However, even large employers have been granted a concession, says the Washington Post: They can avoid fines by offering coverage to 70% of eligible employees in 2015, and to 95% the following year.
The Treasury Department is allowing more flexibility to mid-sized businesses who “need a little more time to adjust to providing coverage,” the senior official said during a press briefing.
Written by Alyssa Gerace