The Obama administration announced today that it will extend the deadline for the implementation of the health care mandate for medium sized businesses to 2016.
Employers with 50 – 99 workers are given a two year reprieve on offering health care to their full-time employees. Requirements for companies with 100 or more workers are reduced by 25%.
Larger employer (over 100 employees) are also seeing their requirement to offer health care to their full-time employees reduced from 95% to 70%.
The administration claims that stratifying the two phase-ins for businesses across America will ease the financial and administrative burdens for employers who have not offered health insurance benefits in the past.
The move today was well received by the majority of the business community. Most believe the postponements will allow employers additional time to understand the applicable rulings that will affect their businesses.
For the full Washington Post Article, click here