Wednesday
October 1, 2014

Health Insurance Employer Mandate Delayed One Year

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Health Insurance Employer Mandate Delayed One Year

The new federal health reform law’s requirement that employers with 50 or more full-time employees provide health insurance to their full-time employees or face a penalty was delayed yesterday to allow the federal government the opportunity to streamline the law’s employer reporting requirements and give employers more time to set up their systems for implementing it.

Also delayed is the penalty for failure to provide employee coverage.

Health insurance exchanges, on which businesses and individuals will be able to compare and select insurance plans in one place, will still launch later this year, as planned, the Obama administration says.

The employer mandate is expected to have limited impact on real estate brokerages and on state and local associations of REALTORS®, because most brokerages and associations have fewer than 50 full-time employees. Sales associates who are independent contractors are not counted as employees under the law.

More information on the delay is at the White House blog; background on the employer mandate is in the NAR video “Gear Up for Health Ins. Mandate.”

Robert Freedman, REALTOR® Magazine