By this time you have probably already heard that the Employer Mandate has been delayed until 2015. In simple terms, no employer will be penalized in 2014 for failing to offer health insurance (or failing to offer affordable health insurance).

Although the penalties have been delayed, other aspects of the law continue to move forward with implementation.

Here are 5 key ACA items for employers to know.

1. The Individual Mandate hasn’t been delayed. Most U.S. citizens and permanent residents will be required to obtain health insurance in 2014 or face financial penalties.
    
2. The Health Insurance Marketplaces, also known as the Exchanges, are still scheduled to be operational on October 1, 2013.
    
3. Employers are still required to provide an Exchange Notification to all existing employees by October 1, 2013 (and within 14 calendar days for all new hires after this date). Even employers that don’t provide health insurance must provide this notice to employees.
    
4. Employers that offer affordable health insurance with minimum value will still eliminate subsidy eligibility for most employees in the Exchanges.
    
5. Other market reforms including the essential health benefits, 90 day waiting periods, deductible and out-of-pocket limitations, reinsurance fees and several others will still apply in 2014.

The Affordable Care Act (ACA) continues to be modified, refined and implemented all at the same time.  As additional guidance is released, or other aspects of the law are delayed, we will send out up-to-date communications.

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Note: The materials contained within are provided for informational purposes only and do not constitute legal or tax advice.