Park City, Utah (PRWEB) July 26, 2013
Today, Zane Benefits, the online alternative to group health insurance, published new information on the delayed ACA employer mandate.
According to Zane Benefits’ website, the Affordable Care Act (ACA) employer mandate provision has been delayed until 2015. This news was announced July 2, 2013 by the ?US Department of the Treasury on behalf of the Administration.
This significantly impacts large employers (50+ employees) who, were gearing up to either offer affordable, qualified group health coverage in 2014, or be subject to a penalty.
The US Treasury stated that "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." Click here for US Treasury Source.
The individual mandate, the individual health insurance tax subsidies, and the state health insurance Marketplaces all remain unaffected and continue to be scheduled to take effect January 1, 2014.
What is the ACA Employer Mandate?
According to Zane Benefits’ website, the ACA includes provisions that applicable large employers (50+ FTE employees) will be required to offer minimum essential coverage that is affordable to employees. Applicable large employers who fail to offer affordable, minimum essential coverage will be required to pay a penalty on their tax return.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.
Read the full story at http://www.prweb.com/releases/2013/7/prweb10951772.htm.
Copyright©2012 Vocus, Inc.
All rights reserved