Yesterday afternoon, the Obama Administration announced that the “employer mandate” rule of the Affordable Care Act wouldn’t take effect until 2015. This is very good news for staffing!
As you probably know, the employer mandate is the portion of the ACA that requires employers to offer health insurance coverage to their employees if the company employs 50 or more full-time equivalent workers. This rule was scheduled to take effect on January 1, 2014, but now we’ve got another year to implement it.
This delay gives staffing firms another year to show the additional value of staffing to your clients, to see if you can find a health plan for your associates that doesn’t break the bank and to begin building a cash reserve in case you have to pay the penalty tax for not offering a health plan.
Needless to say, COATS will be ready when this rule does kick in, and if there are any changes between now and then, we’ll be on top of them.
Now, go and have a Happy 4th!