Health Care Reform: Employer Notice Requirements

From Brown & Brown - Tacoma

• Information about what the Marketplace is, as well as contact information and a Health Care description of services provided by the Marketplace. • A statement that you may be eligible for a premium tax credit to help you with Reform: premium costs if you purchase coverage through the Marketplace. Employer • A statement informing you that if you receive coverage through a Marketplace plan, you may lose any employer contributions to your health benefits, and that those contributions are often excluded from income for tax purposes, while Notice Marketplace coverage payments are made on an after-tax basis.

Requirements The notice may include information about your health plan if your employer offers one. This information can help clarify whether you will actually be eligible for On Oct. 1, 2013, the new health insurance Marketplaces created by the Affordable Care On Oct. 1, 2013, employees must have received notice Act (ACA) will take effect after three years of development. from their employers about the new insurance Marketplace and whether or not they are eligible for At that time, as part of ACA provisions, employers must inform employees with a coverage. written notice about the Marketplace.

Who gets notified? Marketplace subsidies or tax credits, because eligibility depends on whether your Most employees will receive this notice, with employer’s plan meets certain standards related to coverage and affordability. limited exceptions for certain public employees, agricultural workers and What if I am eligible for COBRA coverage? volunteers. If you lose coverage under your employer’s plan, you and your family members may be eligible to continue your health plan coverage through COBRA. Employees must be notified even if they already have health insurance, and both full- Individuals who are eligible for COBRA coverage must receive a notice from the time and part-time employees must be health plan administrator describing their right to continue coverage and how to make notified. an election. This notice may also include information on coverage options available through the Marketplace. Current employees must be given the notice by Oct. 1 at the latest. New employees hired Some COBRA recipients may want to compare their COBRA coverage with after Oct. 1 must be given the notice within alternatives to COBRA coverage that are available through the Marketplace. COBRA two weeks of their date of hire. recipients may also be eligible for a premium tax credit for a Marketplace plan.

What’s in the notice? The notice must include the following information:

This Know Your Benefits article is provided by Brown & Brown - Tacoma and is to be used for informational purposes only and is not intended to replace the advice of an insurance professional. Visit us at . ©2013 Zywave, Inc. All rights reserved.