The Obama Administration announced that it will delay the federal health care law that would have mandated businesses with 50 or more full time employees to provide health care for their employees. The law currently states that working an average 30 hours is considered full time. The enforcement will be postposed until 2015, meaning no businesses will have to pay the $2,000 per employee per year fine in 2014.
The Treasury Department, who is responsible for the mandate, acknowledged the complexity of the law and is going to attempt to streamline the process over the next year. Moving forward, the goals of the delay are to give the White House a chance to simplify the reporting requirements and provide more time for businesses to adjust to the requirements.
The delay does not affect the main parts of the law which include subsidized markets and the individual mandate that requires the majority of Americans to buy health insurance. This means that employees whose employers still do not cover their health insurance will have to continue to find coverage on the exchange until 2015.
Read the full report from the White House administration.