WEST PALM BEACH, Fla.-Credit unions deciding whether they will "play or pay" under the new Obamacare rules will now be able to delay that decision one year.
The Obama Administration last week announced it is delaying implementation of the Affordable Care Act's employer responsibility provision until 2015. Originally slated to start in 2014, the rule states that employers with more than 50 full-time equivalent employees must provide affordable healthcare coverage or pay a penalty of $2,000 per each FTE.
Analysts have speculated that many employers will elect not to offer healthcare coverage to their employees, let staff go to public or private health insurance exchanges, and pay the penalty instead-which some have said is the cheaper route for the employer but does little to boost employee morale.
Experts have also stated that the Obama administration has been lagging behind in setting up public healthcare exchanges. Published reports said the White House has been in discussions with business groups over complaints about the reporting requirements under the Affordable Care Act.