Authorities allows more time to employers to give insurance to employees
The authorities have allowed more time to large businesses to give health insurance to all of their employees as required under the Affordable Care Act in the country.
The government has set a new deadline for compulsory insurance from 2014 to 2015. The mandatory insurance will penalise employers with more than 50 employees if they do not offer a minimum standard of affordable health insurance to its employees. The additional time will allow employers to work thorough the complex laws in offering insurance schemes to their employees.
Al Smith, president and CEO of the Greater Fresno Chamber of Commerce said, "Obviously this is a complex piece of legislature and I think that it made a lot of people uneasy. But this delay gives businesses breathing room and time to digest the complexities of the act. If we hadn't delayed it would have made complex issues more complex."
The extension will also allow businesses, who have not yet begun their insurance coverage plans to cover all their employees in time. Experts said that the delay will protect companies who were not prepared for the mandate and this might help bring benefits to the employees in time.