As an employer, you have the responsibility under the Affordable Care Act to notify your employees of the existence of the Health Insurance Marketplace, or “Exchange”, no later than October 1, 2013. The notice must be provided to all employees whether or not you sponsor a group health plan. Furthermore, the notice must be provided to all employees, regardless of eligibility for employer-sponsored insurance coverage, and must include certain plan and employer information.
Although the U.S. Department of Labor has released several model notices that may be used as templates, additional carrier-specific information must also be included prior to distribution. This information has not yet been made available by many insurance carriers.
YPP will provide this notice for our full HR management (PEO/ASO) clients once the necessary information has been released. If you are not one of our clients, we recommend you review this with your broker as soon as possible to be sure you have the information you need as timely as possible so you don’t miss this important deadline.