Employer Exchange Notice Requirement Delayed

Posted January 25, 2013 Company News

On January 24th, the DOL announced in the form of a new FAQ, that the March 1, 2013 Exchange Notice requirement has been delayed until additional regulations are issued. This is not surprising at all to those of us who have been following the Department’s communications and understand the objective for this new disclosure. The Exchange notice must contain a content:encoded of the services provided by the Exchanges, detailed information about how to contact the Exchanges and information about whether the plan the employer offers to full-time employees provides minimum value benefits. The DOL feels it is important to coordinate this notice with HHS’s educational efforts and IRS guidance on minimum value coverage.

 

The Department is considering providing model language for this notice, and is also contemplating providing a compliance alternative, one that would allow employers to satisfy the notice requirement by providing employees with information using an employer coverage template that will be available for download at the Exchange web site. Future guidance on complying with the notice requirement is expected to provide flexibility and ample time for employers to comply. And we have some time now — the DOL anticipates that employers won’t be required to distribute the notices until late summer or fall of 2013.

 

Please note that the information contained in this document is designed to provide authoritative and accurate information, in regard to the subject matter covered. However, it is not provided as legal or tax advice and no representation is made as to the sufficiency for your specific company’s needs. This document should be reviewed by your legal counsel or tax consultant before use.

Additionally, the messages and content within the Pittsburgh Health Care Reform group do not reflect the advisory services of Henderson Brothers, Inc.


 

Contributing EXPERT: Shari Herrle