On
July 12, 2013, Governor Deval Patrick signed the 2013/2014 Massachusetts budget
that includes the repeal of the Massachusetts Fair Share Contribution for
employers. This announcement from the Governor comes only a week after
President Obama delayed the implementation of the Employer Mandate until
2015. The Massachusetts Fair Share Contribution penalizes employers with
11 or more employees who do not comply with the state’s regulation to provide
their employees with an affordable health insurance plan. If employers
did not offer their employees an affordable plan then employers would be
subject to a fine of $295 per employee on an annual basis.
The
Patrick Administration felt that the repeal of the Massachusetts Fair Share
Contribution will coincide with the Federal Employer Mandate regulation even
though it will not take effect until 2015. To remain up to date with the
most recent health care reform regulations, please visit our blog The Best Bottom Line”. If
you have any questions about health care reform or the most recent Supreme
Court rulings and how they may pertain to your company, please contact our
office at 978.777.6554.
Thank
you.
