Late Tuesday the US Dept of Treasury released this statement.
Continuing to Implement the ACA in a Careful, Thoughtful Manner
By: Mark J. Mazur
Over the past several months, the Administration has been engaging in a dialogue with businesses – many of which already provide health coverage for their workers – about the new employer and insurer reporting requirements under the Affordable Care Act (ACA). We have heard concerns about the complexity of the requirements and the need for more time to implement them effectively. We recognize that the vast majority of businesses that will need to do this reporting already provide health insurance to their workers, and we want to make sure it is easy for others to do so. We have listened to your feedback. And we are taking action.
The Administration is announcing that it will provide an additional year before the ACA mandatory employer and insurer reporting requirements begin. This is designed to meet two goals. First, it will allow us to consider ways to simplify the new reporting requirements consistent with the law. Second, it will provide time to adapt health coverage and reporting systems while employers are moving toward making health coverage affordable and accessible for their employees. Within the next week, we will publish formal guidance describing this transition. Just like the Administration’s effort to turn the initial 21-page application for health insurance into a three-page application, we are working hard to adapt and to be flexible about reporting requirements as we implement the law.
UNICO MIDLANDS will continue to monitor these developments as we believe this may provide some relief to large employers (those with more than 50 employees). However there will still be several items to be aware of concerning ACA and the steps you may need to take this year.
The delay does not affect any other provision of the ACA, including individuals’ access to premium tax credits for coverage through an Exchange. The Treasury plans to issue more formal information about the delay within a week.
We will have a seminar in early September to help answer some of these questions. Details of the seminar will follow soon. In the meantime if you have questions concerning health care reform please contact us at 402-434-7257.