By SEMA Washington, D.C., Staff
The Obama Administration has again delayed the requirement for businesses with 50–99 employees to offer health care coverage. Mid-sized firms will now have until January 1, 2016, to comply with the law’s obligation to offer coverage or pay a penalty. The so-called “employer mandate” was originally scheduled to take effect on January 1, 2014, but had already been delayed one year.
Large businesses with more than 100 employees will still be required to offer health insurance January 1, 2015, or face a penalty of $2,000 for each full-time worker, minus the first 30 full-time employees. Until 2016, however, the companies must only offer coverage to 70% of their full-time workers rather than the law’s 95% threshold.
Businesses with 49 or fewer employees are not required to offer health care coverage for their employees. For more information on the health care law, please visit the SEMA-member guide webpage. Questions? Contact Stuart Gosswein at email@example.com.