It’s time for organizations to prepare for the Affordable Care Act’s (ACA) employer play or pay provision. Beginning in 2014, applicable large employers must decide if they want to play by providing affordable, minimum essential coverage under an eligible employer-sponsored plan or pay fines.
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Get Your Report Now!Update: In July 2013, the Obama Administration delayed the ACA 'play or pay' provision until 2015.
“While there is still more than a year before play-or-pay takes effect, October 2013 will be an important month because health care exchanges are to begin offering coverage to individuals and small employers on October 1, 2013 to take effect on January 1, 2014,” notes Martin Simon, JD, BLR Senior Legal Editor in an article on HR.BLR.com.
What should employers do first? The first question employers should ask themselves is whether they are, or will be, an “applicable large employer” covered by play or pay.
Read Simon’s full article on how to determine whether your organization is a covered employer.