All Employers Must Notify Employees of Marketplace Before October 1, 2013
Under the Patient Protection and Affordable Care Act (PPACA) employers are required to notify employees about the federal health insurance Marketplace by October 1, 2013.
ALL employers subject to the Fair Labor Standards Act are required to provide a notice to ALL employees about the existence of the Marketplace. The notice must be provided in writing and inform employees of coverage options, contact information and a description of services provided by the new Marketplace.
In addition, the notice must:
• Inform the employee that they may be eligible for a premium tax credit if the employee purchases a qualified health plan through the Marketplace.
• Include a statement informing the employee that, if the employee purchases a qualified health plan through the Marketplace, the employee may lose the employer contribution (if any) to any health benefits plan offered by the employer.
• Clarify that all or a portion of such contribution may be excludable from income for federal income tax purposes.