Skip to main content
  1. Life
  2. Family & Parenting
  3. Family

Obamacare mandate delayed again for some businesses

See also

Businesses that hire between 50 and 99 employees will now have until 2016 to provide health insurance coverage for their workers, the U.S. Treasury Department announced yesterday, Feb. 10. While these businesses must still report employees’ coverage in 2015, the employer shared responsibility payments, a penalty of $2,000 per employee for businesses that fail to provide health insurance, will not be assessed until 2016.

Originally, the Affordable Care Act (ACA) required that all businesses with 50 or more full-time employees provide health insurance benefits by 2014. This mandate was pushed back to 2015 when many businesses claimed they needed more time to comply with reporting requirements.

The Treasury Department estimates this ruling will affect approximately 2 percent of the nation’s employers.

Employees of these companies are still required, under the ACA, to have insurance coverage. Families and individuals who do not have employer-sponsored health insurance may purchase a health plan through their state’s Health Insurance Marketplace. To avoid a penalty, individuals must have coverage beginning April 1, 2014.

For 2014, the penalty for not having health insurance is $95 or 1 percent of adjusted gross income, whichever is greater. Penalties will be collected by the Internal Revenue Service during the 2015 tax season.

Households with incomes less than 400 percent of the Federal Poverty Level may be eligible for tax credits and subsidies to offset health insurance premium costs. Insurance must be purchased through the Health Insurance Marketplace to access subsidies.

Advertisement

Life

  • Dead babies found
    Seven dead babies were found in Utah resident Megan Huntsman's old home
    Video
    Shocking Discovery
  • Kendall Jenner
    Get the Coachella looks: Kendall Jenner’s nose ring, green hair and edgy nails
    Camera
    Coachella Look
  • Dog's Easter basket
    How to fill your dog’s Easter basket with the perfect toys
    Easter Basket
  • Rabbit owners
    Bringing home the bunny: Important information for rabbit owners
    Camera
    7 Photos
  • Haunted island
    The world’s most haunted island may soon be the most haunted luxury resort
    Haunted Resort
  • Sunken ferry
    Search continues for missing passengers after a ferry sinks off the South Korean coast
    Video
    Sunken Ferry

User login

Log in
Sign in with your email and password. Or reset your password.
Write for us
Interested in becoming an Examiner and sharing your experience and passion? We're always looking for quality writers. Find out more about Examiner.com and apply today!