As reported last week, the Obama Administration announced on July 2 that it will delay implementation of the employer mandate portion of the Affordable Care Act (ACA) for one year. Employers with 50 or more full-time equivalent employees now have until Jan. 1, 2015, to report whether or not they offer employees qualified health insurance coverage.
This delay does not alleviate employers of all ACA-related responsibility, however. The individual mandate requirement that all people have health insurance or pay a penalty is on track to be implemented Jan. 1, 2014, with state health care exchanges opening for business on Oct.1, 2013.
The Centers for Medicare & Medicaid Services issued a final rule, scheduled to be published in the July 15 Federal Register, which includes a requirement that employers fill out a 12-page “Application for Health Coverage and Help Paying Costs” for employees who are applying for advance premium tax credits (APTCs).
While companies don’t have to submit files that would determine whether they offered qualified coverage for each employee, they still face this requirement to fill out individual applications showing whether they offer qualified coverage when requested to do so. Employees are responsible for asking their employers for this information, which includes whether they have employer coverage, its cost and the extent of the coverage.
The delay in the employer mandate also does not affect the employer’s requirement to report minimum value in the Summary of Benefits and Coverage disclosures that must be provided to employees.
Click here for more information about subsidy eligibility and the exchanges.
Click here for an application for health coverage and help paying costs.