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TaxAugust 03, 2010
Author: Tod David Yeslow
The health care reform legislation signed into law on March 23, 2010 sets out significant new requirements for individuals, employers and insurers, including the requirement that all employers which are not exempted must now “play” and offer a minimum level of employer-provided health benefits or “pay” an excise tax. Compliance with the Act necessarily requires an understanding of the legal requirements which will be further clarified as the Department of Health and Human Services issues its regulatory guidance. Meanwhile, employers are scrambling to: understand the extent to which the Act applies to them; decide whether they will “play-or-pay”, and; determine how to comply with the requirements of the Act and still meet their business purposes for offering health benefits to their employees.
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