ACA EXCHANGE NOTICE DEADLINE OCTOBER 1, 2013 MUST BE PROVIDED BY ALL EMPLOYERS

Critical deadlines under President Obama’s Patient Protection and Affordable Care Act are quickly coming. HR departments of large companies are aware that if there are more than fifty (50) employees, the company is required to provide employees with health insurance as of January 1, 2014. However, even companies with as few as 1 employee have a compliance deadline under the ACA.

The ACA requires that on or before October 1, 2013 all employers must deliver a notification to each of their employees that informs them of: (1) the availability of public insurance exchanges; (2) the federal premium tax credit (under certain circumstances) if the employee purchases a qualified health plan through an insurance exchange; and (3) the possibility of losing the employer contribution if the employee purchases through the exchange.

The Notice must be delivered either by First Class mail or email. Going forward all new hires must receive this Notice within fourteen days (14) of being hired and commencing as January 1, 2014, at the time of hire. Two model forms are available on the Department of Labor’s website (one form if you offer health insurance and another form if you do not).

If you have any questions please feel free to call any of the attorneys at Danziger Shapiro. We will be happy to discuss this and any other issue that may be affecting your business.

This entry is presented for informational purposes only and is not intended to constitute legal advice.