Health Care Reform - Important Dates
Employers must notify all of their employees, by October 1, 2013, that they will have the option to purchase health insurance on the new Health Insurance Marketplace exchange for coverage beginning January 1, 2014.
Employers are required to send a notification letter (mail or electronic) to each full-time and part-time employee regardless of whether they are enrolled or eligible for the employer’s group health insurance plan.
The open enrollment period for the Health Insurance Marketplace begins in October for coverage beginning on January 1, 2014.
The Department of Labor (DOL) issued a sample letter for employers to use. One letter is for employers who will continue to offer a group health plan, while the other letter is for employers who do not offer health coverage (see links below for sample letters and DOL requirements).
Employers can include current health plan information in the letter, including whether the employer plan meets the minimum value standard and affordability tests. Employees can use the information from the letter to shop for and/or apply for health insurance on www.HealthCare.gov. Depending on family income, employees may qualify for tax credits to offset their premium.
NOTE: If employees purchase a health plan through the Marketplace instead of accepting health coverage offered by the employer, they could lose their employer contribution to the employer offered coverage. Also, the employer contribution and employee contribution for employer coverage is often paid on a pre-tax basis. Premiums paid through the Marketplace are made on an after-tax basis.
For more information contact your Starr Group Consultant.
Links to Starr Group Healthcare Reform website for these three documents: