Sunday, January 13, 2013

Hobby Lobby Finds Way To Delay Accrual of Affordable Care Act Penalties

Hobby Lobby, whose high-profile challenge to the Affordable Care Act contraceptive coverage mandate has so far been unsuccessful, has found a way to put off the accrual of $1.3 million per day fines that it would otherwise face for refusing to furnish employees health insurance coverage that meets minimum federal standards. As reported by CNN, in statement from its general counsel Hobby Lobby says it has shifted the beginning of its health care plan year, thus delaying for several months the requirement that it comply with the Women's Preventive Services coverage mandate.  Under the coverage guidelines, compliance is required at the beginning of the company's first plan year after Aug. 1, 2012.