On 7/2/2013 the U.S. Department of the Treasury (Treasury)
announced that the Obama administration will be delaying the
effective date of certain key provisions of the Affordable Care Act
until 2015. Specifically, the employer and insurer reporting
requirements and the employer shared responsibility rules, commonly
referred to as the "pay or play" or "employer
mandate" rules, will both be delayed until 2015. This
additional time will allow Treasury to consider ways to simplify
the new reporting requirements and will provide time to adapt
health coverage and reporting systems while employers move forward
with complying with the statute's requirements. Formal guidance
is expected within the next week, and proposed regulations on the
employer and insurer reporting requirements are expected later this
summer.
The announcement by Treasury does not have any impact on the
individual mandate rules, which will generally be effective January
1, 2014, and the healthcare exchanges are still expected to be
operational later this year. Day Pitney will be issuing a more
detailed Client Alert following the issuance of formal
guidance by Treasury.
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ARTICLE
6 July 2013
Healthcare Reporting and Employer Mandate Deferred Until 2015
The U.S. Department of the Treasury (Treasury) announced yesterday that the Obama administration will be delaying the effective date of certain key provisions of the Affordable Care Act until 2015.