Big news just released by the Obama administration. The “Employer Mandate”, the provision of the ACA which requires employers with 50+ employees to offer coverage, has been delayed until 2015. While the vast majority of businesses larger than 50 employees already offer coverage, this is going to greatly affect those that do not.
For employers, this is good news. With the penalty for not providing coverage removed, employers who had implemented hiring freezes or just merely fretted over employee counts approaching 50- the point at which penalties can apply for not providing coverage- can relax for another year. However, the employer mandate was merely delayed, not eliminated entirely, so it would be wise to take advantage of the delay to properly implement and employee benefits program for 2015.
For employees of groups not offering insurance, this is a blow. However due to the other provisions of the ACA, their misfortune is not as dire. Starting October 1, 2013, these employees can now enter the individual exchange. Depending on their income, they may be eligible for a subsidy from the government to help pay their monthly premiums or even their medical costs.
As with everything involving the ACA, some individuals will benefit and others will suffer. Employers who would still like to provide benefits are free to do so. Employee benefits, and especially health insurance, are a key figure in attracting the best and brightest employees- and retaining them. Employers who would not like to pay for employee benefits, but would still like to assist their employees in obtaining quality healthcare are encouraged to send their employees to the applicable government exchange, eligibility for which can be determined at www.quotebroker.com or by calling 800-783-0802. If eligible, the government subsidy obtained through the exchange could go a long way toward filling or even closing the gap left by not providing employer sponsored health care.