ACA employer penalty implementation pushed back to 2015
Posted on July 11th, 2013 Read time: 1 minutes
In a blog post on Tuesday, the U.S. Department of the Treasury announced that it would not begin requiring reports under the Affordable Care Act from businesses until 2015. Organizations will be strongly encouraged to begin complying to reporting requirements in 2014 to give everyone involved the opportunity to do a test run to make the eventual transition go more smoothly.
Many businesses found themselves scrambling to research the new law and alter their practices to match it before the 2014 deadline. These organizations now have an extra year to iron out their policies and learn more about the ACA. The U.S. Department of the Treasury intends to review reporting procedures, as well, and make them as easy as they can within the parameters of the law. They anticipate publishing guidance for employers on this issue within the week.
The ACA sparked a lot of discussion in the business community. Many companies have elected to outsource human resources functions such as employee benefits management to employers of record who can handle legal challenges more efficiently. Businesses have also seen the value of hiring temporary workers to simplify their compliance efforts. Despite the delay, the same issues that prompted outsourcing and hiring contract workers will still exist in 2015. Companies should use the remaining year to consider carefully whether they would like to choose staffing and outsourcing solutions.
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Posted on July 11th, 2013 Read time: 1 minutes
In a blog post on Tuesday, the U.S. Department of the Treasury announced that it would not begin requiring reports under the Affordable Care Act from businesses until 2015. Organizations will be strongly encouraged to begin complying to reporting requirements in 2014 to give everyone involved the opportunity to do a test run to make the eventual transition go more smoothly.
Many businesses found themselves scrambling to research the new law and alter their practices to match it before the 2014 deadline. These organizations now have an extra year to iron out their policies and learn more about the ACA. The U.S. Department of the Treasury intends to review reporting procedures, as well, and make them as easy as they can within the parameters of the law. They anticipate publishing guidance for employers on this issue within the week.
The ACA sparked a lot of discussion in the business community. Many companies have elected to outsource human resources functions such as employee benefits management to employers of record who can handle legal challenges more efficiently. Businesses have also seen the value of hiring temporary workers to simplify their compliance efforts. Despite the delay, the same issues that prompted outsourcing and hiring contract workers will still exist in 2015. Companies should use the remaining year to consider carefully whether they would like to choose staffing and outsourcing solutions.
