by Samuel Diehl and Monica Kelley, Esqs., Gray Plant Mooty, Minneapolis
Last summer, the U.S. Supreme Court upheld the Patient Protection and Affordable Care Act (ACA). Since then, a primary concern for employers has been how to effectively prepare for the employer mandate requiring most employers to provide health insurance benefits.
Although the mandate takes effect in 2014, implementation of several requirements will depend on circumstances that unfold this year. Employers should plan ahead to avoid unexpected negative consequences. Immediate actions may be necessary.
Employer mandate explained
The employer mandate is relatively simple, requiring covered employers to provide affordable group health coverage to full-time employees by 2014, or else pay a penalty. There are two possible penalties: the “sledgehammer” penalty for failing to offer coverage at all, and the unaffordability penalty for offering coverage ...(register to read more)