Very large employers will be required to offer health care coverage to their full-time employees or pay a penalty to the federal government beginning Jan. 1, 2015. Under the final regulations released by the U.S. Department of Treasury on Feb. 10, 2014, however, employers with fewer than 100 full-time employees will have an extra year to plan for and implement the employer mandate.
For larger employers, enforcement in 2015 will apply only to employers who fail to offer coverage to at least 70% of their full-time workforce. The regulations also provide additional guidance for determining the status of full-time employees and counting hours of service. Otherwise, the final regulations retain most of the guidance issued in the proposed regulations and four earlier Internal Revenue Service notices on minimum value and reporting requirements and methods for determining employee status.
