delay of obamacare good news for restaurant, retail and hotel jobs
The White House delayed for one year a requirement under the Affordable Care Act that small businesses provide health insurance to employees.
This provision, commonly known as the employer mandate, calls for businesses with 50 or more workers to provide affordable quality insurance to workers or pay a $2,000 fine per employee. Business groups had objected to the provision, which now will take effect in January 2015.
This is another setback for President Obama’s landmark health-care overhaul as it enters a critical phase.
Businesses and Trade Associations reacted with relief to the Obama administration’s decision to give large and midsize employers until 2015 to provide health care coverage for their workers or face fines.
“We commend the Administration’s wise move,” said National Retail Federation Vice President Neil Trautwein. “This one-year delay will provide employers and businesses more time to update their healthcare coverage without threat of arbitrary punishment.”
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