Last week the Treasury Department announced that the “Pay or Play” mandate requiring employers with over 50 full time employees to offer health coverage or pay stiff fines would be delayed until 2015.
Last week the Treasury Department announced that the “Pay or Play” mandate requiring employers with over 50 full time employees to offer health coverage or pay stiff fines would be delayed until 2015. The collective sigh of relief could be heard from Washington to California. “We have heard the concerns about the complexity of the requirements and the need for more time to implement them effectively,” wrote Mark J. Mazur, assistant secretary for tax policy, in a blog post.  Randy Johnson, senior vice president of the U.S. Chamber of Commerce commented that the announcement was “A pleasant surprise.”

So, all the parties will have another whole year to sort out the complexities of implementing the employer mandate. The states will have more time to get their SHOP, Small Group Health Options, websites up a running. The IRS will have time to straighten out the tax codes. The Department of Health and Human Services will have more time to get their regulations ironed out and clarified to the business community. And employees will be able to keep their current high priced coverage or go to the state exchanges to get coverage.  

The state health exchanges offering individual and family plans are scheduled to open on time on October 1st. The California version of the public health benefit exchange, or marketplace as it is sometimes called, is www.coveredca.com. I will be allowed to participate in the exchange as an independent broker after I become certified. Certification and testing was to be in August, but has been postponed until sometime in September. But today I can still help you find out what plans purchased through the exchange would cost for you and your family. I have a calculator that will determine if you are entitled to a subsidy or tax credit, and what those amounts would be for each plan. For families with modest incomes the subsidies can be quite large.

Last week the Treasury Department announced that the “Pay or Play” mandate requiring employers with over 50 full time employees to offer health coverage or pay stiff fines would be delayed until 2015.
Last week the Treasury Department announced that the “Pay or Play” mandate requiring employers with over 50 full time employees to offer health coverage or pay stiff fines would be delayed until 2015. The collective sigh of relief could be heard from Washington to California. “We have heard the concerns about the complexity of the requirements and the need for more time to implement them effectively,” wrote Mark J. Mazur, assistant secretary for tax policy, in a blog post.  Randy Johnson, senior vice president of the U.S. Chamber of Commerce commented that the announcement was “A pleasant surprise.”

So, all the parties will have another whole year to sort out the complexities of implementing the employer mandate. The states will have more time to get their SHOP, Small Group Health Options, websites up a running. The IRS will have time to straighten out the tax codes. The Department of Health and Human Services will have more time to get their regulations ironed out and clarified to the business community. And employees will be able to keep their current high priced coverage or go to the state exchanges to get coverage.  

The state health exchanges offering individual and family plans are scheduled to open on time on October 1st. The California version of the public health benefit exchange, or marketplace as it is sometimes called, is www.coveredca.com. I will be allowed to participate in the exchange as an independent broker after I become certified. Certification and testing was to be in August, but has been postponed until sometime in September. But today I can still help you find out what plans purchased through the exchange would cost for you and your family. I have a calculator that will determine if you are entitled to a subsidy or tax credit, and what those amounts would be for each plan. For families with modest incomes the subsidies can be quite large.