While so much of the discussion on the new health care laws have been dominated by the “employer mandate” and “full time equivalent” calculations, a mandate of the act is right around the corner.
October 1, 2013 is the deadline for employers to notify employees IN WRITING of the option to purchase health coverage through the Federal Health Exchange Marketplace.
This notice is part of the compliance with the Patient Protection and Affordable Care Act (PPACA). The notice must be provided to all employees (both full-time and part-time) under the Fair Labor Standards Act (FLSA), regardless of whether the employee is enrolled in an employer sponsored medical plan. All employers with revenue of $500,000 or more, no matter how many employees or if they offer a health plan must provide this notice.
TO COMPLY WITH THIS FEDERAL LAW
Clients using PayVision Online’s HR Answer Center can access the appropriate forms once logged-in under:
Benefits>>Health Care Reform>>Forms, Templates, Guidelines>>Notice of Exchanges (use the appropriate version for your company)
Follow these steps for compliance:
- Fill in the employer portion before making copies for all employees
- Have employees sign and date the copy for acknowledgement
- Provide the employee a copy of the signed document
- Retain a copy for your records
- All new hires must be given this form within 14 days
To help you the federal government has launched a new one-stop Health Care Changes website to provide employers of all sizes with state-by-state information on their options and responsibilities under the Patient Protection and Affordable Care Act (PPACA). The new site is meant to complement, not replace, the government’s existing HealthCare.gov website.
Should you want to learn more about the benefits available in PayVision Online’s HR Answer Center, call us at 214-442-5888.