Some larger businesses may be letting out a collective sigh of relief now that they have more time to comply with the Patient Protection and Affordable Care Act provision that requires them to provide health care coverage to their employees.
The White House said Tuesday that it is extending the compliance deadline for employers with 50 or more employees from 2014 to 2015 so that they can test the new reporting systems and make any necessary adaptations to their health benefits.
"This delay will give all of us enough time to work through the many issues and provisions that will be in effect for 2014 and beyond," said Sherry Campbell, benefits consultant and chief operating officer for CU Benefits Alliance, a Salem, Ore.-based CUSO owned by 18 credit unions. "This delay will give us some relief in efforts to meet all the timelines of the legislation."
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