Obama administration gives mid-size employers more time to comply with ACA
The Obama administration is giving employers more time to comply with rules requiring them to provide affordable health insurance for their workers.
Mid-sized companies with the equivalent of 50 to 99 full-time employees will now have until 2016 to provide affordable coverage under Obamacare, a year later than expected, the administration announced Monday.
And larger companies are getting a bit of a break too — they must offer insurance to only 70% of full-time workers in 2015, rather than 95%. The higher threshold will begin in 2016.
Only 2% of the nation’s firms are considered mid-sized, with another 2% defined as large.
Companies with fewer than 50 people on staff, which make up 96% of businesses, are not subject to the Obamacare employer mandate.
To read more click here.