Are you compliant with the affordable care act?
The Affordable Care Act requires employers to provide employees with a notice of the availability of the Health Insurance Marketplace (the â€œExchangeâ€) that will be available Jan. 1, 2014. This is a requirement of all employers, regardless of size.
Employers were required to distribute the notice by October 1, 2013. If you have not yet done so, you should discuss it with your financial advisor or insurance agent. There are two model notices (depending on whether or not the employer offers a health plan) which can be found on the Department of Labor website under the â€œNotice to Employees of Coverage Optionsâ€ section.
All employees, including full or part-time and those not enrolled in the employer-sponsored plan, are required to receive this notice. For newly hired employees, the notice must be provided within 14 days of their start date.
For further details, including Technical Release 2013-2, go to www.dol.gov.