The Affordable Care Act mandatory employer and insurer reporting requirements will be deferred until 2015; the previous deadline was January 2014. The Obama Administration announced the delay via blog post last week, click here to read full post. The individual mandate has not been delayed and will still be effective 2014.
The employer requirement stated that large employers (those with more than 50 full-time equivalent employees) must provide affordable health insurance to their employees or face a fine. The mandated reporting of hours worked and proof of coverage offered has been delayed as well.
While this news may come as a relief to some employers who were not quite prepared, many business consultants across the nation are advising employers to take advantage of the one-year reprieve and spend that time shopping around for cost-effective tools that enable companies to better track and report hours worked, including biometric time keeping.