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The Obama administration has decided to postpone for one year the Affordable Care Act mandate requiring employers with more than 50 full-time employees to provide health care coverage for their workers or pay fines.
"We have heard concerns about the complexity of the requirements and the need for more time to implement them effectively," wrote Mark Mazur, assistant secretary for tax policy at the U.S. Treasury Department, in a post on the department's website. "We have listened to your feedback. And we are taking action."
Full implementation now is slated for 2015.
Within the next week, Mazur said, the Treasury will issue official guidance on the transition. To read his blog post, click here.
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