Health Insurance Marketplace Deadline

Many of you may have already been informed by your payroll company about the upcoming requirements, but we still thought it prudent to provide you a reminder of your obligation. Under the new Patient Protection and Affordable Care Act employers with annual revenues of $500,000 and at least one employee are required to notify all employees (part-time and full-time) of the Health Insurance Marketplace Coverage by October 1, 2013. The notification must include the following:

• Information about the Health Insurance Marketplace,
• An employee may be able to get lower costs on private insurance in the marketplace based on their level of income, and
• If they buy insurance on the Marketplace they may lose the employer contribution (if any) to their health benefits.

Samples of the notification are available below. If you have any additional questions, please contact Marie Holliday at 302-691-2211 or mholliday@coverrrossiter.com