The BWCC held an
information seminar on September 12 with a panel of experts to discuss this
topic, providing samples of documents that must be distributed to your employees
on or before October 1, 2013. While all
of the information they provided cannot be shared in this notification, here are key points and information resources
for you:
Beginning in 2014, The Patient Protection and Affordable Care Act (PPACA or Healthcare Reform) will provide the ability to buy health insurance as an individual or family in the Health Insurance Marketplace. In accordance with PPACA, every employer is required to provide each employee with information regarding these new Health Insurance Marketplaces (also known as just ‘Marketplaces’ or ‘Exchanges’) as well as the information about the health coverage offered by the employer.
Beginning in 2014, The Patient Protection and Affordable Care Act (PPACA or Healthcare Reform) will provide the ability to buy health insurance as an individual or family in the Health Insurance Marketplace. In accordance with PPACA, every employer is required to provide each employee with information regarding these new Health Insurance Marketplaces (also known as just ‘Marketplaces’ or ‘Exchanges’) as well as the information about the health coverage offered by the employer.
- Open enrollment for health insurance coverage through the Marketplace begins in October 2013 for coverage starting as early as January 1, 2014. Open enrollment for INDIVIDUALS begins Oct. 1, 2013, with coverage starting Jan. 1, 2014. Enrollment for SMALL BUSINESSES begins Jan. 1, 2014 for coverage beginning March 1, 2014.
- Beginning Oct. 1, any business with at least one employee and $500,000 in annual revenue must notify all employees by letter about the Affordable Care Act’s health-care exchanges, or possibly face up to a $100-per-day fine. The requirement applies to any business regulated under the Fair Labor Standards Act, regardless of size. Going forward, letters are to be distributed to any new hires within 14 days of their starting date, according to the Department of Labor.
- If you currently offer health insurance to your employees, this is the document that you can provide to them explaining the Health Insurance Marketplace Options .
- If you DO NOT currently offer health insurance to your employees, this is the document that you will need to provide to your employees.
Remember, businesses with 50 or fewer full-time employees—are not required to offer health insurance
coverage under the Affordable Care Act. Even businesses with more than 50
full-time employees have gotten a one-year reprieve from penalties if they
don’t offer insurance. But all companies, regardless of size,
are required to notify their employees about the marketplaces by October 1.
Here are additional
links to resources that may be helpful to you, along with additional documents
that may be helpful:
http://marylandhbe.com/outreach/
http://marylandhbe.com/wp-content/uploads/2013/08/Maryland-Health-Connection-Overview-Fact-Sheet.pdf
http://www.marylandhealthconnection.gov/small-businesses/
http://www.marylandhealthconnection.gov/wp-content/uploads/2013/07/SHOP-Fact-Sheet1.pdf
http://marylandhbe.com/outreach/
http://marylandhbe.com/wp-content/uploads/2013/08/Maryland-Health-Connection-Overview-Fact-Sheet.pdf
http://www.marylandhealthconnection.gov/small-businesses/
http://www.marylandhealthconnection.gov/wp-content/uploads/2013/07/SHOP-Fact-Sheet1.pdf
·
Department
of Labor Official Document, to include the means by which documents may be
disseminated to employees: http://www.marylandhealthconnection.gov/wp-content/uploads/2013/09/tr13-02-Employer-format.pdf
·
Article from Bloomberg Businessweek: http://www.businessweek.com/articles/2013-09-03/what-small-businesses-need-to-do-for-obamacare-before-oct-dot-1
As always, the BWCC will be happy to assist our members in
any way we can to connect you with additional resources to answer questions you
may have.
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