The Obama administration has decided to delay the employer mandate, a key piece of the Affordable Care Act, until 2015.
Employers with 50 or more employees were facing a 2014 deadline to provide an adequate level of health insurance or face fines of $2,000 per worker. Now these larger employers will have a one-year reprieve to make their health care decisions.
The Wall Street Journal reports that the delay offers these employers more time to prepare for the mandate, and gives the administration a chance to simplify their implementation of the law. Many small business owners, particularly in the retail, restaurant, and agricultural industries, were having trouble complying with the reporting requirements by the 2014 deadline.
The delay does not affect any other provisions of the Patient Protection and Affordable Care Act (PPACA). You can read the official statement about the delay at www.treasury.gov.