The U.S. Department of Labor (DOL) has issued new versions of the Affordable Care Act (ACA) Notices of Exchanges.
The DOL has released one model notice for employers who offer health plan coverage to employees, and one for employers who do not.
Ogletree Deakins reminds employers of the ACA requirement to provide written notice to employees regarding insurance:
The ACA requires employers to provide employees with a written notice that contains information about the insurance purchasing exchanges (i.e., the “Health Insurance Marketplace” or “the Marketplace”) and describes the availability of a premium tax credit and the effects of obtaining coverage through the Marketplace. In the notice, employers must also explain that employees may lose their employers’ nontaxable contribution to health benefits if they elect to obtain coverage through the Marketplace.
The notices will expire on May 31, 2020.
For more on these updated noticed, please click here.
The information included in this blog post originally appeared in an article in Ogletree Deakins on August 14, 2018, written by Stephanie A. Smithey.
Learn More About Our HR Related Services