February 19, 2013 The Affordable Care Act: Health Insurance Exchange Notice Requirement
KEEPING YOU INFORMED…
The Patient Protection and Affordable Care Act requires employers which are covered by the Fair Labor Standards Act to provide all new and current employees with a written notice of the availability of the federally mandated health insurance exchanges. An exchange is a government-regulated health insurance marketplace designed to help consumers shop for insurance by comparing price, benefits, services and quality of various policies.
Pursuant to the Affordable Care Act, the notice of the availability of health insurance exchanges was to be provided to employees by March 1, 2013. The United States Department of Labor (“the DOL”) recently announced that employers are not required to send the notice until additional regulations are issued. It is expected that these regulations will be issued later this year. It is also expected that the new deadline will be late summer or fall of 2013, which will coordinate with the open enrollment period for the health insurance exchanges.
Please contact us if you have any questions.
THIS MEMORANDUM IS MEANT TO ASSIST IN GENERAL UNDERSTANDING OF THE CURRENT LAW. IT IS NOT TO BE REGARDED AS LEGAL ADVICE. THOSE WITH PARTICULAR QUESTIONS SHOULD SEEK THE ADVICE OF COUNSEL.
© Lamb & Barnosky, LLP, 2013