Final employer mandate regulations were released in February. The new guidance provides further transitional relief for employers. Below are some highlights of the new guidance:
- Employers with less than 50 employees are still not subject to this requirement.
- Employers with 50 to 99 employees have another year (until 2016) of transition, if they qualify and certify with the IRS.
- Employers with 100 or more employees must offer coverage to most (70%) employees in 2015 rather than substantially all (95%) . The relief ends in 2016 and coverage must be offered to substantially all (95%).
- Non-calendar year plans have until their 2015 renewal date to comply, if they qualify. The IRS is evaluating whether this relief will extend to employers who first become subject to the mandate in 2016 (employers with 50-99 employees).
- Guidance was released for employees in unique categories:
- Educational employees
- Seasonal employees
- Student work-study programs
- Adjunct faculty
- Additional guidance is expected regarding the IRS reporting requirements, set to apply in 2015
For more information please refer to the text of the final regulations: click here