You heard about the employer delays previously mandated by the Affordable Care Act, right?
Did you think that meant that employers no longer needed to provide information about the Affordable Care Act to their employees by October 01, 2013?
Oops…no, that deadline is still mandated.
Still confused?
Well, luckily Employee Benefits News published a very helpful article that explains what is needed.
Affordable Care Act Employee Notice
“Employers must provide a notice to each employee, regardless of plan enrollment status or part-time or full-time status, by Oct. 1. The notice must be provided automatically, free of charge, and written in language that the average employee can understand. It may be provided by first class mail or electronically, if the requirements of the U.S. Department of Labor’s electronic disclosures safe harbor are met. It must also be provided to new hires — for 2014, the DOL will consider a notice delivered timely to a new employee if it’s provided within 14 days of the start date.
“The (Affordable Care Act) notice must inform each employee of three things:
- The existence of state or federal health insurance exchanges.
- If the employer plan’s share of the total allowed costs of benefits provided under the plan is less than 60%, then the employee may be eligible for a federal premium tax credit if the employee purchases a qualified health plan through an exchange.
- If the employee purchases a qualified health plan through an exchange, then the employee may lose the employer contribution to any health benefits plan offered by the employer; also, all or a portion of such contribution may be excludable from income for federal income tax purposes.”
Still concerned because you, the employer, don’t want to create such a notice from scratch?
More good news!
Sample Affordable Care Act Employee Notices
“The DOL published model notices, one for Employers Who Offer Health Plans, and one for Employers that Do Not Offer Health Plans.”
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