IMPORTANT DEADLINE: October 1st for Healthcare Reform Notices
All Employers Must Comply
As of October 1st, employers must provide ALL employees with written notification of Health Insurance Marketplaces, also known as Health Insurance Exchanges, without exception. Regardless of whether employees are eligible for employer-paid benefits and regardless of whether they are enrolled in the employer’s plan, notice must be provided. Additionally, all new employees must be provided with the same notice within 14 days of being hired.
To assist employers with fulfilling this new requirement, the Department of Labor has provided notice templates that employers may complete to satisfy the notification.
For employers who offer health insurance to some or all employees, they may use this “Employee Notice of Coverage Options” form.
For employers who do not offer health insurance to employees, they may use this “Employee Notice of Coverage Options” form.
If employers prefer to use their own forms, they simply must include the following information, which can be distributed by US Mail or electronically:
- an explanation of the newly available Marketplaces;
- a reference to www.HealthCare.gov where the employee may gather additional information;
- information about premium subsidies that may be available to employees if they purchase a qualified health insurance plan through a Marketplace; and
- notification that employees may lose their employer contribution to the health plan if it is obtained through a Marketplace.
For assistance with complying with this law or to discuss best practices, please contact us.