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Stay of Execution!: Deadline for Compliance with "Obamacare's" "Pay or Play" Provisions Pushed Back a Year

Jul 4

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7/4/2013 2:57 PM  RssIcon

STAY OF EXECUTION!: DEADLINE FOR COMPLIANCE WITH THE “PAY OR PLAY” MANDATE UNDER THE PATIENT PROTECTION AND AFFORDABLE CARE ACT (“OBAMACARE”) EXTENDED

Late Tuesday, in a surprise move, the Obama administration informally announced that the effective time of the employer requirement to provide health insurance (commonly known as “Pay or Play”) and the insurer reporting requirements under the Patient Protection and Affordable Care Act (the “PPACA”, commonly referred to by some as “Obamacare”) would be pushed back from January 1, 2014 to January 1, 2015.  Oversimplifying, this is the part of the PPACA that requires employers with 50 or more employees to offer affordable health insurance coverage to their full time employees or else pay penalties.  This extension is extremely welcome news to a great many businesses.  The reason for the extension is concern about the ability of businesses to be able to comply with the requirements by the original deadline.

Formal guidance is expected to be issued by July 9, 2013.

It is important to note that this extension does not apply to all requirements of the PPACA.

This is not a type of matter within the scope of my personal practice, but I bring it to your attention because it is very important and very welcome breaking news for many of my clients and other companies.  As always, I serve in an "outsourced general counsel" role and if you would like more information on this subject, I would be pleased to provide you with a referral to someone with appropriate subject matter expertise who can assist you.

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