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Thursday April 17th 2014

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Some Brokers Breathe Sigh of Relief with Mandate Delay

SighThe announcement that the Obama Administration will delay the mandate requiring employers with 50 or more workers to provide health insurance or pay a fine was greeted with a sense of relief and appreciation, allowing businesses to better plan for full implementation of the Affordable Care Act, according to brokers. On Tuesday, the Treasury Department unexpectedly announced that the deadline for what is commonly called “pay or play” will be Jan. 1, 2015, rather than the beginning of next year. The department acknowledged that employers were faced with a fast-approaching web of complexities related to the mandate. Employers with at least 50 workers will eventually have to pay a $2,000 penalty per employee if they do not provide coverage, although employers will not have to include the first 30 employees in the penalty calculation according to a recent report in the North Bay Business Journal.