Health Care Exchange Notice - Businesses to Comply by October 1
Beginning October 1, 2013, any business with at least one employee and $500,000 in annual revenue is required to notify all employees about the health insurance marketplaces, also known as "exchanges", created by the Affordable Care Act, or face up to a $100-per-day fine. This requirement applies to any business regulated under the Fair Labor Standards Act (FLSA), regardless of size. According to the Department of Labor, letters are to be distributed to any new hires within 14 days of their starting date going forward.
Below are the links to the Department of Labor announcement for all employees. One link is for those employers who offer a medical plan and the other link is for those employers who do not offer a medical plan.
As always, should you have any questions as to whether this applies to your business, feel free to contact your healthcare provider or our own experts, Jimmy Dickey or Caren Creason at The Marston Group, PLC (901) 761-3003.