Exchange-Marketplace Notice Requirement—Affordable Care Act
At Clark-Mortenson, we want to ensure that your organization is ready for the changing requirements under the Affordable Care Act (ACA) as they potentially start to have an impact on your organization. We have posted important documents to our website related to the Exchange Notice Requirement—a new requirement under the ACA, that may directly affect you and your employees. The documents that we’ve posted will help you understand, and comply with, the Exchange/Marketplace Notice Requirement.
The ACA requires all employers that are subject to federal wage and hour laws (the Fair Labor Standards Act, FLSA), to distribute a Notice to all full-time and part-time employees—regardless of whether or not they are covered under the employer’s health plan, and regardless of the employer offering a health plan at all.
The Notice given to all employees should outline the following:
- Coverage is available through the new Health Insurance Marketplace.
- Employees may be eligible for a tax credit or subsidy through the Marketplace.
- Employees may lose their employer contribution if they buy a plan through the Marketplace, and this may have a tax impact on employees.
Below are links to two sample Notices provided by the Department of Labor that will assist you in providing your employees with the required information stated above:
- The Form for an employer that provides health insurance coverage to some employees, or
- The Form for an employer that does not provide any health coverage to employees
Employers must provide one of these notices to all employees NO LATER THAN OCTOBER 1, 2013. The Notice must be mailed or e-mailed - to all employees.
You can find other pertinent information relative to the ACA by visiting our website at www.clarkmortenson.com/aca. As information becomes available we will be posting links to the exchanges, state specific requirements, frequently asked questions, upcoming educational workshops and more, in an effort to help your organization navigate through the changes and requirements of the ACA.
Please use our knowledgeable staff and website as a resource, by visiting www.clarkmortenson.com/aca, emailing us at aca@clark-mortenson.com or by calling us at 877-352-2121 with any questions or concerns that you may have.
