Health Care Reform Bulletin- FAQ on Exchange Notice Penalties
Although there is NO FINE OR PENALTY under the ACA for failing to provide an exchange notice; the Affordable Care Act (ACA) requires employers to provide all new hires and current employees with a written notice about the ACA’s health insurance exchanges. This notice will be effective starting October 1, 2013.
The Department of Labor has issued two model notices to help employers comply. There is one model for employers that do not offer a health plan and another model for employers that offer a health plan for some or all employees:
- Model Notice for employers that offer a health plan to some or all employees
- Model Notice for employers that do not offer a health plan
The deadline for providing the Exchange Notice is October 1, 2013.
Click on the HCR Bulletin to read the full article.