White House To Delay Obamacare’s Employer Mandate Until 2015
White House To Delay Obamacare’s Employer Mandate Until 2015;
Far-Reaching Implications For The Private Health Insurance Market
Excerpt from The Apothecary, with Avik Roy – 7/02/2013
The Obama administration has decided to delay the implementation of Obamacare’s employer mandate—the requirement that all firms with 50 or more employees offer health coverage, or pay steep fines—until 2015. The mandate was supposed to go into effect on January 1, 2014. This development will have a significant impact on the rollout of Obamacare, the private health insurance market, and the nation’s economy, as I detail below.
The news was first reported by Mike Dorning and Alex Wayne of Bloomberg this afternoon. The ruling, they say, “will come in regulatory guidance to be issued later this week. It addresses vehement complaints from employer groups about the administrative burden of reporting requirements, though it may also affect coverage provided to some workers.”
“First,” wrote Treasury official Mark Mazur in a statement, the delay “will allow us to consider ways to simplify the new reporting requirements consistent with the law. Second, it will provide time to adapt health coverage and reporting systems while employers are moving toward making health coverage affordable and accessible for their employees.”
Read the full article on Forbes.com