Employers Given 1-Year Extension On ACA Health Coverage
By David McAfee
Law360, Los Angeles (July 2, 2013, 9:59 PM EDT) -- The Obama administration will provide businesses an additional year before they are required to provide health care coverage to employees or pay penalties under the Affordable Care Act, the U.S. Department of Treasury announced Tuesday, citing complexity of the requirements and the need for more time to implement them effectively.
The Treasury said the Obama administration has communicated with businesses over the last several months about the new mandatory employer and insurer reporting requirements under the ACA. Federal authorities listened to feedback and are taking action,...