Today, the White House announced a delay in the employer mandate under the Affordable Care Act, which requires employers to provide health insurance coverage to their employees or pay a penalty.
This will not impact the individual mandate which requires most uninsured Americans to purchase health insurance by March 31, 2014.
What Does This Mean to Employers?
Under the employer mandate, employers with more than 50 full-time employees would have been required to provide health insurance or face penalties beginning January 1, 2014, but now they will have until 2015.
How Will This Impact You?
The delay does not change the individual requirement to purchase health insurance. Most uninsured Americans will still be required to purchase health insurance by March 31, 2014. If your employer provides insurance, you don’t have to take further action. Find out more here.
Have specific questions about how this impacts you? Ask them below or get health care reform answers in our TurboTax community.