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The Obama Administration announced yesterday that the Play or Pay mandate will be delayed, for employers with 50-100 employees, until 2016. Employers will 100 or more employees will still be subject to the mandate for calendar year 2015.
1. Large employers with 100 or more employees, 70% of employees must be offered coverage in 2015, and in later years at least 95% of employees must be offered coverage. Employers that do not meet these standards will be subject to tax penalties.
2. Employers with 50 to 99 employees will have an extra year, until 2016, to provide coverage or pay tax penalties.
3. Nothing has changed in connection with small businesses with fewer than 50 employees. These companies will not be required to provide coverage.
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