The US Treasury Department announced today they are delaying to 2015, the mandate which requires employers (with more than 50 employees) to offer medical coverage to their employees. Many employers will breathe a temporary sigh of relief as this is a key component of the Healthcare Reform legislation.
The Treasury Department stated that this delay was issued in an effort to allow those employers not currently offering coverage additional time to take the required actions. Although this announcement only delays inevitable, it will be welcomed relief to many employers who were faced with paying a substantial increase in medical premium, in an effort to comply with this law.
Link to US Treasury Department Statement
i2i benefits will continue to keep you up to date as more details are released on the impact on this change to the Healthcare Reform legislation.