The National Small Business Association (NSBA) provides timely tips for small business owners in their series, Traps for the Unwary. Their recent newsletter covers what business owners must provide in terms of Health Insurance Exchange Notifications.
The Patient Protection and Affordable Care Act (PPACA) requires that employers provide employees with a notice of their coverage options available through the health insurance exchanges no later than Oct. 1, 2013–just weeks away.
Beginning Jan. 1, 2014, individuals and employees of small businesses will have access to health coverage through a health insurance exchange (generally over the internet) operated by their state, their state in partnership with the federal government or the federal government directly. Open enrollment for the exchanges is set to begin Oct. 1, 2013.
Employers must provide the “Marketplace Notice” to their current employees by Oct. 1, 2013. The notice also must be provided to new-hires on and after October 1, 2013.
For more information on how to satisfy the content requirements, click on this link for the NSBA article to get more information and links to two model “Marketplace Notices” available on the Department of Labor’s website.
To read about the benefits of membership in NSBA, click here.