Feb. 11 (Bloomberg) — President Barack Obama said a delay until 2016 in his health care mandate for mid-sized employers is an adjustment that doesn't undermine the law.
"People are trying to do the right thing and it may take a little bit of time," Obama said in a joint news conference today with French President Francois Hollande in the East Room of the White House.
Employers with fewer than 100 workers won't have to provide health insurance until 2016 under Obamacare, while larger firms have to cover at least 70 percent of the workforce starting next year, the Internal Revenue Service said in a rule issued yesterday.
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