A requirement that most US employers provide
health insurance for workers is to be delayed as President Barack
Obama's administration works to roll out his massive overhaul of the
US health insurance system, the Treasury Department said Tuesday.
The announcement delays by one year to 2015 implementation of one of the major provisions of the major domestic legislation of Obama's first term in office. The requirement for employers with more than 50 workers to provide health insurance had been due to kick in next year.
"We have heard concerns about the complexity of the requirements and the need for more time to implement them effectively," Assistant Treasury Secretary Mark Mazur said in a statement explaining the need for more time to institute the major overhaul.
Critics of the health care reforms have said the requirement would prompt companies to downsize or avoid hiring new workers to avoid being forced to provide insurance. Most Americans receive health insurance through employers.
Implementing the Affordable Care Act is among the key tasks of Obama's second term, as bureaucrats work out the details of the law signed by Obama in 2010 and upheld by the Supreme Court last year.
Most of the law's major provisions, including the central requirement that all Americans have health insurance or pay a penalty, are due to begin in 2014.
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 31, 2014
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