If you have at least one employee and generate at least $500,000 in annual revenue, you have a requirement under the Affordable Care Act. Kelly Spors at Open Forum explains: “Most U.S. employers—even those with just one employee—are required to send a notice to all employees via first-class mail by Oct. 1 informing them about the new public health insurance exchanges. The notification requirement applies to any business regulated under the Fair Labor Standards Act, which covers all companies with at least one employee and $500,000 in annual revenue. The letters must be sent to all employees, full-time and part-time and regardless of their benefits plan status.” Click the link above for more details.
A post on Practical Law Company adds more detail about employer ACA obligations related to notifications per the FAQs issued by the Department of Labor. In the FAQs, the DOL says that “…another entity besides the employer (such as a third-party administrator (TPA), insurer or multiemployer plan) may send exchange notices on an employer’s behalf if the notices are timely and complete.”
Additional Resources
End-of-Year Employer Checklist from Haynes and Boone, LLP.
Health Care Reform Resource Page – Resources from the Society for Human Resources Management (SHRM)
Affordable Care Act – Information for Employers and Self-Employed
Small businesses – Learn about small employer tax credits, as well as small employers’ rights and responsibilities under the law. Small employers are usually defined at those having fewer than 50 employees.
Large businesses – Information for businesses with 50 or more employees, including information about tax policy and employer responsibility parts of the law.
Self-Employed – Self-employed people have some new options and protections, both now and beginning in 2014. In some states, self-employed people can apply for small business policies.
Health Insurance Marketplace from HealthCare.gov
Find state-specific market information.
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ESI EAP offers 24-7 access to counselors and a wide variety of support resources for employees and family members who are facing difficult health challenges. We also offer wellness benefits and health risk assessments, including discounts for weight loss programs, exercise and nutrition programs, and stop smoking programs. If you want to learn more about how ESI can provide more employee EAP benefits and more employer services, call us at 800-535-4841.