Washington, D.C. – The National Retail Federation (NRF) is applauding a decision by the Treasury and IRS to delay implementation of some employer requirements under the Affordable Care Act (ACA) until 2015 and eliminate other requirements for small businesses.
As a result of changes to ACA regulations announced on Feb. 10, the percentage of full-time workers that large employers with 100 or more employees need to offer coverage to will be phased from 70% in 2015 to 95% in 2016 and beyond. Companies with 50-99 employees that do not yet provide quality, affordable health insurance to their full-time workers will report on their workers and coverage in 2015, but have until 2016 before any employer responsibility payments could apply. And small businesses with fewer than 50 employees are not required to provide coverage or fill out any forms in 2015, or in any year, under the Affordable Care Act.
“The Administration should receive a gold medal for recognizing the enormous complexities of the Affordable Care Act, and its agility and flexibility in working with retailers and others in crafting these much-needed and commonsense reforms and revisions,” said Neil Trautwein, VP and employee benefits policy counsel for the NRF, in a statement. “Continued simplicity, streamlining and clarification of the Affordable Care Act are in the best interest of employers and employees and the Administration and Congress."