Obama Administration Delaying Part Of Obamacare's Employer Mandate - Again
The Treasury Department said it will delay the mandate's penalty another year for small businesses with 50-99 workers. It will also adjust some of the requirements for larger employers.
Under the new Treasury Department rules, businesses with 100 employees or more must offer coverage to at least 70% of full-time workers in 2015 and 95% in 2016, or face a penalty.
"While about 96% of employers are not subject to the employer responsibility provision, for those employers that are, we will continue to make the compliance process simpler and easier to navigate," Assistant Secretary for Tax Policy Mark J. Mazur said in a statement.
"Today's final regulations phase in the standards to ensure that larger employers either offer quality, affordable coverage or make an employer responsibility payment starting in 2015 to help offset the cost to taxpayers of coverage or subsidies to their employees."
Last July, the Obama administration delayed by a year the requirement that businesses provide workers health insurance.
The purpose of the employer mandate is to discourage employers from dropping coverage and leaving employees to buy subsidized insurance in the Obamacare exchanges at greater taxpayer expense.