What is the mandate of the deferred employer means for workers

What is the mandate of the deferred employer means for workers -

It was earlier this month that the Obama administration surprised the nation by announcing a delay in the employer mandate "provision of the health Act, which requires companies to provide insurance to workers. companies now have until 2015 to comply with the mandate .

the provision expressly requires companies with more than 50 workers provide employees with insurance coverage. Those who fail to do so are fined $ 2,000 per worker. This postponement gives both companies and the government more time to work through the details of the law, but here that workers and employers need to know.

Do I still have to get coverage?

Although large employers now have more time to offer health coverage, individuals are still required by law to obtain health insurance next year or face a penalty. The penalty-which remains unchanged, starts $ 95 or 1 percent of household income (whichever is greater) and skyrockets to $ 695 or 2.5 percent of household income in 2016. Workers whose employers delayed coverage of the offer, may actually be able to find a better deal by shopping insurance exchanges. Individuals can register for an insurance plan through online markets set to open October 1st.

Is this delay increase the chances of my employer coverage Dropping?

For those workers who already receive health coverage through an employer, do not worry. The chance that your business will drop next year the coverage without the requirement of government is thin. Many employers offer insurance to the fact that he keeps healthy, happier employees.

It is also unlikely that employers scale back coverage in 2014, the law requires that all coverage offered by the employer to cover at least 60 percent of medical expenses. cover employers exceeding 9.5 percent of the household income of a worker is considered too expensive and can put the company at risk of federal sanctions. Most employers' insurance existing policies already meet the requirements of the law for 2014.

What is the average time for low-wage workers?

Many low-wage workers are not already receive coverage through their employers, and although this may not change next year, they can still register by means of exchange and be eligible for grants to help offset the costs of insurance. Uninsured people who earn less than 400 percent of the federal poverty level ($ 45,960 for an individual, $ 94,0 for a family) are eligible for the sliding scale grant. For more information on credits and tax subsidies for health care here.

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