October 1, 2013 Is The Deadline To Give Employees Notice About Obamacare
OCTOBER 1, 2013 IS THE DEADLINE
TO GIVE EMPLOYEES NOTICE ABOUT OBAMACARE
By: Laura B. MacNeel, Esq. and Chad T. Wishchuk, Esq.
October 1, 2013 is the deadline for employers to provide employees with written notice regarding health insurance coverage options and the “Health Insurance Marketplace” under Obamacare. Details are provided below.
This notice requirement applies to employers with one or more employees that have at least $500,000.00 in annual dollar volume of business.
All current employees must receive the notice by October 1, 2013. New employees hired after October 1, 2013, must receive the notice at the time of hiring or within 14 days of their start date.
The notice must provide employees with information regarding: (1) the Health Insurance Marketplace (the exchange, in California this is called “Covered California”) (2) the availability of tax credits for health insurance premiums, (3) any employer-sponsored plan, and (4) the effect of an employee purchasing insurance through the Health Insurance Marketplace.
This article provides general information only; it is not intended to be legal advice and does not establish an attorney-client relationship. Also, this article is not intended to be used for purposes of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending any tax-related matter.