Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | Webster
Davis Motor Sales banner ad
Impressions pre-reset: 420826 Clicks pre-reset: 872

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.

Posted on 2/2/14
2/6/2014 - posted
3/13 - 16
Started 11/8/2013
Started 11/8/2013
button coupons

Stock Report

1 DOW 17,810.06
+91.06 (0.51%)    
2 S&P 2,063.50
+10.75 (0.52%)    
3 NASDAQ 4,712.97
+11.10 (0.24%)    
2/6/2014 - posted
3/13 - 16
Started 11/8/2013
Started 11/8/2013
2/6/2014 - posted
3/13 - 16
Started 11/8/2013
Started 11/8/2013
button classifieds
2/6/2014 - posted
3/13 - 16
Started 11/8/2013
Started 11/8/2013

Most Read This Week

November 18, 2014 5063

Couple Charged for Concealing Food in Infant Car…

in Local (Hopkins) Top News by Madisonville Police Department
November 21, 2014 4818

Man Accused of Assaulting Coach During Basketball…

in Local (Muhlenberg) Top News by Rita Dukes Smith, SurfKY News Director
November 17, 2014 4577

Police Charge Woman for Drug Possession After…

in Local (Hopkins) Top News by Madisonville Police Department
November 17, 2014 3596

Bremen Woman Ejected From Vehicle During Kentucky…

in Local (Muhlenberg) Top News by Trooper S.C. Recke
November 19, 2014 3027

Three Injured in Two-Vehicle Collision on South…

in Local (Hopkins) Top News by Gwen Smith
November 15, 2014 2942

18-Year-Old Injured When Pickup Strikes Railroad…

in Local (Hopkins) Top News by Patrolman Falon Graham
November 18, 2014 2911

Area Talent to Film Music Video at Merle Travis…

in Local (Muhlenberg) Top News by Paul McRee, SurfKY News
November 21, 2014 2823

Crashing Dump Trucks in Work Zone Cause Pennyrile…

in Top News For All Sites Touching Hopkins by Trooper Stu Recke
November 19, 2014 2795

Two Killed When Vehicle Becomes Airborne, Strikes…

in Local (Owensboro) Top News by Daviess County Sheriff's Office
November 15, 2014 2254

Two Injured in Two-Car Collision at East Center,…

in Local (Hopkins) Top News by Patrolman Russell Nichols

Stories Trending Today

November 21, 2014 4818

Man Accused of Assaulting Coach During Basketball…

in Local (Muhlenberg) Top News by Rita Dukes Smith, SurfKY News Director
November 21, 2014 2823

Crashing Dump Trucks in Work Zone Cause Pennyrile…

in Top News For All Sites Touching Hopkins by Trooper Stu Recke
November 21, 2014 2037

Muhlenberg District Court Fines Handed Down

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
November 21, 2014 1904

Madisonville Police Arrest Reports - Nov. 21, 2014

in Hopkins News by Madisonville Police Department
November 20, 2014 1892

Commercial Truck Accident Closes Northbound Lanes…

in Local (Hopkins) Top News by Chris Rogers
November 21, 2014 1848

Swimming and Diving Closes Fall Season at Ohio…

in General Sports For All Sites by UK Athletics
November 21, 2014 1759

Hopkins County Health Department Food Scores Thru…

in Hopkins News by Barry Franklin
November 21, 2014 1596

Mustangs Host Webster County During Scrimmage Game

in Local (Muhlenberg) Top News by Steve LeMaster
November 21, 2014 1583

Muhlenberg's McKenzie Johnson Named Wendy's…

in Local (Muhlenberg) Top News by Steve LeMaster
November 20, 2014 1472

Governor Beshear Proclaims November Adoption…

in General News For All Sites by Cabinet for Health and Family Services

SurfKY News Group, Inc.
Corporate Office & Studio
1125 Nebo Rd.  •  Madisonville, KY 42431
270.452.2727 (phone)
  •  270.452.2249 (fax)


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

social fbsocial twsocial yt
social gpsocial flrsocial rss