On Friday, the U.S. Department of the Treasury and the Internal Revenue Service issued long-awaited proposed regulations detailing many of the employer responsibility provisions under the Affordable Care Act. The 144-page rule will be published in the Federal Register on Jan. 2. Comments on the proposed regulations are due March 18. In addition, a public hearing on the regulations will be held in Washington, DC, on April 23.
Employers may rely on the proposed regulations pending the issuance of final regulations or other applicable guidance. Any future guidance that is more restrictive will not be applied retroactively and employers will be given sufficient time to come into compliance with final regulations. No indication was given as to when final regulations might be issued.
The proposed regulations are technical and complex and cover many topics. ASA has prepared a brief summary of the key provisions of particular interest to staffing firms for its member companies.