With the launch Tuesday of the Affordable Care Act's insurance exchanges under the provision known as the "individual mandate," companies have little to worry about in the short term, labor and employment lawyers said. Although the Health Insurance Marketplace for Americans who don't have insurance or want to change their health plans opened October 1, businesses have until January 2015 to give reasonably priced health insurance to employees or risk fines. That ACA provision for companies, known as the "employer mandate," applies to businesses with at least 50 full-time employees, including full-time equivalent workers. Andy Anderson, a partner in the employee benefits and executive compensation practice at Morgan, Lewis & Bockius, called the start of marketplace a "nonevent" for most of his clients, who are focused on the employer mandate. Affiliate publication Corporate Counsel has more.
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