A news release on Monday, February 10th, 2014 indicated that the Obama Administration has granted business groups another delay in a much-criticized requirement that larger firms cover their workers or face fines. In one of several concessions in a complex Treasury Department regulation the administration said companies with 50 to 99 employees will have an additional year to comply with the coverage mandate, until January 1, 2016.
For businesses with 100 or more employees the requirement will still take effect in 2015. But other newly announced provisions, affecting technical issues such as the calculation of working hours, may help some of those firms. Officials say about 2% of businesses have between 50 and 99 employees. About 96% of businesses have fewer than 50 employees.
The delay in implementing the law will affect many non-medical home care companies since the medium sized company in the industry generally has fewer than 100 caregivers. It will give you until January 2016 to find the right approach to providing insurance for your employees or paying the fine. What will you do? Give us your comments.