"I heard the law was delayed, so what does that mean for me?"

You're right that parts of the Health Reform law have been delayed.

1. The Employer Mandate has been delayed. In everyday language, that is the requirement for businesses with 50 or more employees to offer affordable health insurance to their employees or pay a penalty. The penalties have been delayed until 2015 to give businesses time to adjust their plans to be compliant. However, keep in mind that the reporting, employee notifications, and additional taxes to that size employer have not been delayed.

2. The out-of-pocket maximum has been delayed. In everyday language, the law says that an individual's out-of-pocket expenses cannot be more than $6,350 a year. That total includes that you pay for including things like office visit copays or prescription copays. That part of the law has been delayed until 2015, although many insurance companies are still offering plans in 2014 that meet the out-of-pocket criteria.

The rest of the law is scheduled to proceed on time.

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