Oct. 1, 2013 deadline to send employee notices
The Affordable Care Act (ACA) requires all employers provide notice of "exchanges" or "marketplaces" to employees by Oct. 1, 2013, and to any new hires after this date within 14 days of the start date. All emloyees, regardless of full/part-time emloyment status, must receive the notice.
The notice should include the following:
- Information on the existence of exchanges, a description of the services provided and how to contact and seek assistance from the exchange;
- Notice that employees may be eligible for a premium tax credit or cost sharing reduction through the exchange if the employer?s plan does not meet minimum value;
- Notice that employees may lose the employer contribution if they opt-out of group coverage to purchase coverage through the exchange.