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Employer Penalties Pushed Back to 2015

The Employer Penalties, or shared responsibility taxes, under PPACA imposed on applicable large employers for not providing coverage, or for providing coverage that is either unaffordable or does not provide minimum value, will be pushed back to 2015.  This is presumably to provide more time to work out the processes and reporting involved in administering these penalties.  Regardless of the reason for the push back, many employers welcome the change because they were putting off making decisions about medical benefits, including the plans they offer and who they offer those benefits to. 


The earlier these decisions are made and a strategy is designed, the better off both the employer and employees are.  Employers now have more time to work out the details of how healthcare reform impacts them and their bottom line.  Consultants now have more time to help their clients figure all of this out, and help them put together a program that meets their goals and their employees’ needs.  It always seems easier to put things off until tomorrow, and those who procrastinated just received another year…to further procrastinate, or to catch up on what they should have been doing?  I think it is our job in the consulting community to make sure it is the latter.

 

The following link is to the IRS Notice 2013-45 regarding the employer penalty delay.  www.irs.gov/pub/irs-drop/n-13-45.PDF

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