Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster
Davis Motor Sales banner ad

ObamaCare Penalties Postponed

OBAMACAREWASHINGTON, D.C. (7/3/13) – Employers and insurance companies are celebrating today as the Obama Administration “blinked” on the implementation of the Patient Protection and Affordable Care Act also known as “ObamaCare” or the “ACA”. The implementation of ACA has not met goals; and, under an increasing groundswell of opposition to ACA, the Obama Administration opted to delay the penalty phase for employers with over 50 employees until after the November elections. The penalties have been delayed until sometime in 2015.

The following is a press release issued by Mark J. Mazur, Department of Treasury:

Continuing to Implement the ACA in a Careful, Thoughtful Manner
 
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.
 
Here is some additional detail. The ACA includes information reporting (under section 6055) by insurers, self-insuring employers, and other parties that provide health coverage. It also requires information reporting (under section 6056) by certain employers with respect to the health coverage offered to their full-time employees. We expect to publish proposed rules implementing these provisions this summer, after a dialogue with stakeholders - including those responsible employers that already provide their full-time work force with coverage far exceeding the minimum employer shared responsibility requirements - in an effort to minimize the reporting, consistent with effective implementation of the law.
 
Once these rules have been issued, the Administration will work with employers, insurers, and other reporting entities to strongly encourage them to voluntarily implement this information reporting in 2014, in preparation for the full application of the provisions in 2015. Real-world testing of reporting systems in 2014 will contribute to a smoother transition to full implementation in 2015.
 
We recognize that this transition relief will make it impractical to determine which employers owe shared responsibility payments (under section 4980H) for 2014. Accordingly, we are extending this transition relief to the employer shared responsibility payments. These payments will not apply for 2014. Any employer shared responsibility payments will not apply until 2015.
 
During this 2014 transition period, we strongly encourage employers to maintain or expand health coverage. Also, our actions today do not affect employees’ access to the premium tax credits available under the ACA (nor any other provision of the ACA).
 
Mark J. Mazur is the Assistant Secretary for Tax Policy at the U.S. Department of the Treasury.
 
Ron Sanders
SurfKY News
Information provided by Mark Mazur

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013
Started 11/8/2013

In Other News...

Hopkins County Health Department Food Scores Thru July 25, 2014

HOPKINS COUNTY, Ky. (7/25/14) — The following is your update on local restaurant inspections for the Hopkins County… Read More

Business Spotlight - Key Hair Designs

HENDERSON, Ky. (7/25/14) — With more than 100 years of experience between them, the hairstylists at Key Hair Designs… Read More
Started 11/8/2013
Started 11/8/2013

Most Read This Week (Site-Wide)

July 22, 2014 4026

Madisonville Woman Charged With…

in Top Stories by Madisonville Police Department
July 21, 2014 2915

Five Sent to Hospital After Two-Vehicle…

in Top Stories by Rita Dukes Smith, SurfKY News Director
July 24, 2014 2726

Powderly Man Injured in Apparent Gun…

in Top Stories by Charles W. Riley II, SurfKY News
July 21, 2014 2328

Business Spotlight - Painted Window Aims…

in Top Stories by Charles W. Riley II, SurfKY News
July 21, 2014 2242

Madisonville Police Arrest Reports - July…

in News by Madisonville Police Department

Most Read Stories from Hopkins County

July 22, 2014 4026

Madisonville Woman Charged With…

in Top Stories by Madisonville Police Department
July 23, 2014 1945

Crime Stoppers Top Most Wanted - July 23,…

in Top Stories by Crime Stoppers
July 24, 2014 1854

Madisonville Man Charged for Drugs,…

in Top Stories by Trooper Stu Recke
July 21, 2014 1230

Madisonville Fire Chief Announces…

in Top Stories by Rita Dukes Smith, SurfKY News Director
July 21, 2014 1176

Three Injured in Three-Vehicle Collision…

in Top Stories by Rita Dukes Smith, SurfKY News Director

Most Read Stories from Owensboro

July 21, 2014 1517

Portion of Southeastern Parkway Closed…

in News by Beth Cecil
July 22, 2014 1210

Alliance for a Drug Free Owensboro and…

in News by Carla Shelton
July 23, 2014 1155

Owensboro Neighborhood Alliance Meeting…

in News by Sherry Girten
July 22, 2014 1148

Daviess County Traffic Advisory

in News by Keith Todd
July 23, 2014 1015

Fall Baseball League Registrations

in News by Brittni Bunn

Most Read Stories from Muhlenberg County

July 21, 2014 2915

Five Sent to Hospital After Two-Vehicle…

in Top Stories by Rita Dukes Smith, SurfKY News Director
July 24, 2014 2726

Powderly Man Injured in Apparent Gun…

in Top Stories by Charles W. Riley II, SurfKY News
July 21, 2014 2328

Business Spotlight - Painted Window Aims…

in Top Stories by Charles W. Riley II, SurfKY News
July 23, 2014 1758

Greenville Family Loses Home, Possessions…

in Top Stories by Charles W. Riley II, SurfKY News
July 23, 2014 1462

Swinging for Sadie Raises $6,000 for…

in Top Stories by Paul McRee, SurfKY News

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 06social 21social 22social 04social 03