Affordable Care Act employer mandate final regulations released

On Feb. 10, 2014, the United States Treasury Department issued final Employer Mandate regulations pertaining to the Affordable Care Act. 

The rules, which affect employers with a minimum of 50 and a maximum of 99 employees, state that such employers will not be required to comply with the act’s employer-shared responsibility provision until Jan. 1, 2016. To be eligible for relief, employers must prove they have not laid off employees specifically to qualify. 

The shared responsibility provision requires employers to offer "minimum essential health coverage" to full-time employees, defined as those who work a minimum of 30 hours a week or 130 hours per month. Those who do not face a penalty. 

Meanwhile, employers are required by federal law to comply with all other Affordable Care Act requirements. 

Keep an eye out for an invitation for a Cigna webinar concerning final employer mandate regulations, and visit Cigna’s health care reform site, which offers updates and guidance for affected employers. 

If you run a business in the Sterling, Colorado area and have questions about employee insurance, contact Pilkington Financial Services today.