The Employer Shared Responsibility Mandate a key piece of the Patient Protection and Affordable Care Act was originally scheduled to take effect January 1, 2014. This key piece of the legislation has been officially postponed until 2015.
The Employer Shared Responsibility Mandate includes the requirement that large employers of 50 or more full-time employees must offer full-time employees the opportunity to enroll in an employer-sponsored minimum essential coverage health care plan. An additional requirement is that large employers must report annual information relating to the health insurance the employer offers (or does not offer).
This transition relief will provide the IRS additional time for input from employers and other reporting entities in an effort to simplify information reporting. The transition relief through 2014 for the employer shared responsibility provisions and information reporting has no effect on the effective date or application of other Affordable Care Act provisions.
Please contact PayTech to better understand how this mandate will affect your business.