Just as we predicted it would happen, here it comes:
- OBAMACARE EMPLOYER MANDATE TO BE DELAYED FOR SOME COMPANIES
Specifically, according Bloomberg, businesses with 50-99 workers have until 2016 before being penalized for not providing health-care coverage to full-time workers, according to final regulations released by Treasury.
Additionally, businesses with 100 employees or more must offer coverage to at least 70% of full-time workers in 2015 and 95% in 2016; those that don’t will face penalty; Exemption in place for seasonal workers, those defined as generally at jobs 6 mos. or less/yr “While about 96 percent of employers are not subject to the employer responsibility provision, for those employers that are, we will continue to make the compliance process simpler and easier to navigate,” Asst Secretary for Tax Policy Mark J. Mazur says in statement e-mailed by Treasury. Furthermore, businesses with less than 50 employees are not required to provide coverage or fill out any forms in 2015.
Why is this not surprising? Recall what we said a few short days ago:
… the only reason why Obama is suddenly willing to compromise over every aspect of his “crowning achievement” is that finally its tactical, and strategic failure has become clear for all to see. So it would be best to enact it piecemeal, and claim success for whatever legacy aspects of the system are working, while blasting everything that his unprecedentedly complicated, centrally-planned contraption has unleashed.
Finally, why three years? Because by then Obama will be gone (absent some very radical changes to presidential term rules), and Obamacare will be someone else’s problem.
And so Obama’s crowning achievement is just a little less crowning. However, the true negative impact will be borne not by the current president but his successor… who will likely do the same and extend the full provisions indefinitely as well, as the last thing the struggling economy needs right now, as we have not tired of explaining for the past two years, is, well, Obamacare.
via Zero Hedge http://ift.tt/1eKIw4k Tyler Durden