STATELINE (WIFR) – Businesses nationwide are getting a break when it comes to the federal healthcare mandate deadline.
70 people work hard at Custom Gear and Machine in Roscoe, but only about half of them choose to get health insurance through the company.
“It’s getting a little expensive and that’s always been a problem. Part of the reason why the cost is going up is because a lot of the younger people aren’t picking up the insurance. Custom Gear President Mike Rasmann says it’s not easy to provide health insurance for employees, but now businesses are getting a break.
The White House has delayed the deadline by one year, requiring companies with more than 50 workers to provide health insurance to all their employees. They now have until January 2015.
“The government hasn’t done a whole lot to communicate what the program even is and until that happens I’m not paying a whole lot of attention to it.”
The government and businesses still have a year and a half to figure it out. However, individuals are still required to get health insurance by the end of January 2014.
If individuals don’t get health insurance by 2014, they could face tax penalties. Again, the 2015 deadline only affects businesses.