Businesses with more than 50 employees have an extra year to begin offering health coverage required by the Affordable Care Act (ACA). A post on the US Treasury website announced the deferral yesterday.
Noting that the vast majority of businesses affected by the requirement already provide health insurance to their workers, Assistant Secretary for Tax Policy Mark Mazur said the delay will allow time to simplify the reporting requirements and enable employers to adapt their reporting systems and health coverage.
Next year will be a testing and transition period, with employers encouraged to start reporting on their workers’ health coverage in 2014 in preparation for full implementation in 2015.
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