Keller Stonebraker Healthcare Reform Update -Compliance Alert!
“Return of the Exchange”
The Patient Protection and affordable Care Act requires employers to provide all employees with a Department of Labor notice regarding the health insurance marketplace, also known as the “Exchange”. The deadline for distributing the annual Exchange notice is November 1, 2016.
The Initial Notices were distributed in 2013, just before the Exchanges opened on October 1, 2013. Employers may need to update the information contained in the Notice as well as confirm the most recent version is being distributed.
The U.S. Department of Labor created two new versions of the document, one for employers offering health insurance coverage, the second for employers not offering coverage. DOL Exchange Notice with plan 10.2016
For employers offering group health insurance coverage to it’s employees, please include the plan’s administrative contact on page 1. Eligibility requirements for employees and their dependents, ie. “Full-time employees having completed 60 days of service” and “Spouse and dependent children up to 26” may be included on page 2.
Completing page three, questions 14 and 15 are optional. Please save this Notice as it must be provided to all new employees (within 14 days of hire) after October 1, 2013.
Notices may be distributed by mail, in person, or via email. When distributing in-person or via email, it’s advisable to obtain the employee’s acknowledgment of receipt.
If you have any questions, please contact a member of our team at 800-733-2530.