Good news for small business out of Washington. The penalty provision for small businesses that have 50 or more equivalent employees and don’t provide health care coverage has been delayed by one year to apply to coverage in 2015 and taxed in 2016. The individual mandate to be covered by health insurance is still in place for 2014. The government released a statement to the effect that too much of the infrastructure, regulations, and mechanisms were behind schedule or undefined to require the coverage required in the ACA.
Stay tuned for what we expect to be more announcements on the implementation of the Act.