Employers with between 50 and 99 workers will not have to face the Obamacare mandate to provide insurance for employees until 2016, the Obama administration announced on Monday.
The Wall Street Journal reports:
In regulations outlining the Affordable Care Act, the Treasury Department said employers with between 50 and 99 full-time workers won’t have to comply with the law’s requirement to provide insurance or pay a fee until 2016.
Companies with 100 workers or more could avoid penalties in 2015 if they showed they were offering coverage to at least 70% of their full-time workers, the Treasury said.
The move is a new, significant revision of the law after a series of delays and a troubled rollout. Originally, employers with the equivalent of 50 full-time workers or more had to offer coverage or pay a penalty starting at $2,000 per worker beginning in 2014.