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Another Delay in the Affordable Care Act Affects Mid-Sized Companies
A provision of the new health care law has been delayed…..again. The Treasury Department announced Feb. 10 that medium-sized employers with 50 to 99 full-time workers will not have to comply with the new law’s requirement to provide insurance or pay a fee until 2016 instead of the re-set deadline of 2015.
The original 2010 health care law required employers with at least 50 full-time workers offer coverage or pay a penalty of at least $2,000-however, that provision was delayed until 2015. Yesterday's announcement is the second delay for employers with 50 to 99 full time workers.
Companies with 100 workers also have a new reprieve related to requirements coming in 2015: These employers can now avoid a fine in 2015 by offering insurance to 70 percent of their full-time employees instead of 95 percent.