The Treasury Department said Monday that businesses with fewer than 100 employees would not be required to provide health care to its workforce in 2015. This latest policy announcement gives mid-size businesses (those with 50-99 employees) another year to adapt to the ever changing health care marketplace. Note: Small businesses with fewer than 50 workers have always been exempt from this provision.
The Administration is also giving “big” business (those with 100+ employees) more time to ramp up coverage. These large employers will still need to cover full-time workers next year — just not all of them…lowering the benchmark from 95% to 70% next year.
Developing story; more details to follow.