Yesterday, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) issued a new timetable and final regulations for implementing the employer-shared responsibility provisions under the Affordable Care Act (ACA). Previously, the employer responsibility rules require certain employers to either offer their full-time employees affordable, minimum value health coverage or pay penalties beginning in 2015.
The new regulations will affect employers in the following way:
Importantly, employers with fewer than 100 employees will be required to certify to the government that they haven’t fired employees to get under the threshold and thereby qualify for the delay until 2016. However, employers are still permitted to cut their workforce due to economic reasons.
In addition, under the final regulations various employee categories are clarified in determining full-time employment for purposes of health coverage:
Several transitional rules are also allowed:
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