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.
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