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HEALTH CARE REFORM UPDATE: EMPLOYERS MUST QUICKLY FINALIZE 2014 COMPLIANCE EFFORTS

Regulators have recently issued a voluminous amount of guidance addressing how employers must comply with the Patient Protection and Affordable Care Act (PPACA).

Much of the guidance addresses the requirement that, effective January 1, 2014, affected employers must offer qualifying health care coverage to all full-time employees or pay a tax. While the regulations have generally been issued in proposed form, there is enough guidance for employers to develop a fairly detailed approach to PPACA compliance. Furthermore, failure to address issues now may subject a business to significant new taxes in 2014. More…