The stated reason for the delay is that the Treasury Department has been discussing employer and insurer reporting requirements with a number of larger (undefined term) employers who already offer broad-based health care coverage to their employees. Treasury has learned, in what can only be considered a startling revelation if tongue is planted firmly in cheek, that employer and insurer reporting required under ACA is going to be overly complex and place a significant burden on affected businesses.
Now, tell the truth -- if Treasury hadn't blogged about it, would you have known this would create a burden?
So, Treasury has announced that Treasury will be announcing (I can't make this stuff up) the following:
- There will be a one-year delay (until 2015) until mandatory employer and insurer reporting requirements begin.
- Treasury will issue proposed rules this summer for information reporting by insurers, self-insured employers and others that provide health insurance.
- The Administration will work with reporting entities to seek voluntary, but not mandatory, compliance with the not yet effective reporting rules during 2014.
- Because of this relief, Treasury will not be able to determine which employers owe "shared responsibility" payments for 2014, so these will be delayed until 2015.
- During 2014, Treasury strongly encourages employers to maintain or expand health care coverage.
Translation: the law is to complex and tangled and the government needs an extra year to figure out what to tell employers they have to do. My readers are smart; they probably knew this was going to happen.