The Treasury Department rolled out Monday afternoon more tweaks to the health care law's requirement that all large employers–those with 50 or more workers–provide insurance coverage to their workers. This is the part of Obamacare was supposed to take effect at the start of 2014, but was delayed by the White House this past summer as the White House was facing significant push back from employers.
In today's final rule, the Obama administration is essentially relaxing the employer mandate for 2015–in a big way for medium-sized businesses, and a smaller way for the largest employers. Here's a rundown of the key changes.
1. Employers with between 50 to 99 employees get another year of transition. The Obama administration will give medium-sized businesses another year's pass on providing insurance coverage to workers. Treasury estimates that about 2 percent of American businesses fall into this category, but does not have numbers on how many people work for businesses of this size. For these companies, the employer mandate does not take effect until 2016.