You probably have some questions about what is happening to the Affordable Care Act (ACA) often referred to as Obamacare. There has been a great deal of misinformation floating around social media, the mainstream media, and web. AUI wants to give you a quick summary of what we know about the ACA delay:
- Fines and reporting requirements for businesses with more than fifty employees have been put on hold for one year.
- All other requirements are still in effect for January 1, 2014 at the time of this post.
- Most Americans must have health insurance beginning January 1, 2014. This coverage can be from your employer or on your own.
- Premium assistance may be available from the federal government if you financially qualify starting January 1, 2014.
- Open enrollment for the federal exchange is scheduled to begin on October 1, 2013 for policies dated January 1, 2014.
As you can see, only one small part of the law has been postponed. The majority of the law is still scheduled to go into effect on January 1, 2014. If you have more questions about how the law impacts you or your business, contact an AUI expert.
We will continue to keep you updated on changes to ACA here on the blog.
Thank you for reading!