The U.S. Treasury Department announced late Tuesday that it would give employers an additional year to comply with certain provisions of the Affordable Care Act, prompting rare praise of the Obama Administration by the National Retail Federation and other employer groups.
The Treasury Department said it would extend to Jan. 1, 2015 from Jan. 1, 2014 the deadline by which employers with more than 50 employees have to offer affordable health insurance options to their workers or face fines.
“We commend the Administration’s wise move to delay the employer reporting and penalty obligations under the Affordable Care Act” said Neil Trautwein, vice president and employee benefits counsel for NRF.
“This one year delay will provide employers and businesses more time to update their health care coverage without threat of arbitrary punishment.”
Trautwein said that the NRF had worked hard to engage and educate its members on the upcoming ACA requirements and consistently and empathetically called on the Administration to delay these specific regulations.
“NRF will continue to work with the Administration and Congress to ensure that health care reform implementation protects our members, small business owners and the broader business community.”