Employers recently were given the green light on a notice requirement related to health care reform.
The central feature of much of health care reform is the exchange system. No later than October 1, 2013, employers must provide each employee a written notice:
- Informing the employee of the existence of the exchange including a description of services provided by the exchange, and the manner in which the employee may contact the exchange to request assistance;
- Explaining that the employee may be eligible for a premium tax credit if the employee purchases a qualified health plan through the exchange; and
- Including a statement informing the employee that if the employee purchases a qualified health plan through the exchange rather than choosing employer-offered health coverage (if any), the employee may be foregoing the employer's contribution (if any) to the employer-offered health coverage, as well as a statement that such employer contributions are often excludable from income for federal income tax purposes.
Read our entire alert on this notice requirement here.