by Chris Huckins Google+ Email 

 

03 July 2013

Big Businesses Rejoice: Obamacare Delay Announced

Posted in Latest News

Big Businesses Rejoice: Obamacare Delay Announced

    My position in little league was left field, where I picked dandelions all summer. If the ball crossed into my territory, it surprised us all, and so I spent most of my athletic career weeding. Seeing how lush right field was, the dandelions crushed by my aggressive and active teammate, I understood the expression, "Coming out of right field isn't so surprising." What is surprising is Obamacare delaying the mandate that big businesses cover every full time employee or pay a fine.

    Instead of next year, the Affordable Care Act will require large businesses with 50 or more full time employees provide affordable health insurance or pay a $2000 fine beginning January 1st, 2015. The Obama administration delayed the mandate due to the confusion employers expressed toward new, complex regulations. Just how complex and confusing is Obamacare? To put things in perspective, the IRS offered 3 simple steps for small businesses to understand new regulations and an 18 page document for large businesses.

    The announcement comes at a perfect time when upcoming 4th of July barbeques should be stress-free: now employers can add a sigh or relief to their side of potato salad. The news may come as a shock, but really over 96% of employers with 50-199 employees already offer coverage. Now that it's pushed back a year, the Obamacare administration can work out kinks, including clarifying the law altogether for the remaining employers. Until then, big businesses can skip worrying about compliance and continue picking dandelions.

   Happy 4th of July!