October 1 is an important date in the implementation of the Affordable Care Act. That is the date on which all state-, federal-, or jointly-run health insurance marketplaces must be open for business. Individuals and small businesses will be able to shop for, compare and purchase health insurance plans through their state’s exchange and gain access to federal premium assistance through tax subsidies. However, October 1 is also an important date for another reason. This is the deadline for employers to provide an employer notice of exchange to all employees. We previously reported that this requirement is delayed and will be available later, it is now finally made available.This provision applies to all companies that make a minimum of $500,000 in sales on an annual basis or engage in interstate commerce. The employer notice of exchange must be provided to employees even if the company does not provide employees with health insurance.
All plans that are purchased before December 15, 2013 will be effective on January 1, 2014. Consumers may purchase plans on their health insurance marketplace through March 31, 2014 to avoid paying an annual fine. The plans offered through the exchanges all meet the minimum standards as defined through the Affordable Care Act.
Who Needs to Get a Employer Notice of Exchange?
What Needs to be Included in the Notice?
When Should Employees Receive the Notice?
I've found answer to these questions in insurance exchange hq site but i want to make sure whether they're accurate?
All plans that are purchased before December 15, 2013 will be effective on January 1, 2014. Consumers may purchase plans on their health insurance marketplace through March 31, 2014 to avoid paying an annual fine. The plans offered through the exchanges all meet the minimum standards as defined through the Affordable Care Act.
Who Needs to Get a Employer Notice of Exchange?
What Needs to be Included in the Notice?
When Should Employees Receive the Notice?
I've found answer to these questions in insurance exchange hq site but i want to make sure whether they're accurate?
