All employees need to be notified of the new health insurance market place and potential eligibility for premium assistance through the new ACA health plans.
The Affordable Care Act requires that notices about the health insurance exchanges have to be given to current workers no later than Oct. 1, 2013. The notices have to be given to new workers on the day they are hired.
The notices must:
1. tell workers about exchanges, including a description of the services provided and how they can contact exchanges;
2. let workers know they may be eligible for a premium tax credit if the employer plan’s does not cover at least 60% of the total allowed cost of benefits, and the worker buys a qualified health plan through an exchange;
3. explain that if the worker buys a qualified health plan through an exchange, he or she may lose the employer contribution (if any) to any health benefit plan the employer offers, and that all or part of the contribution may be excluded from income for federal tax purposes.
The notices must be given regardless of whether the company offers a group health plan or not. Visit the Small Group Navigation Page to download the appropriate form for your group. The employer can fill in certain portions of the form to help employees make determinations about their health insurance coverage. The employee will need the information on the form if he or she decides to enroll in a health plan through a state exchange that offers premium assistance or tax credits to reduce the monthly health insurance premium.