Has your company been meeting its compliance requirement to distribute the Health Insurance Exchange Notice to new hires? If so, please note that the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has once again extended the effective date of its model notice.
The revised version of the notice now has an expiration date of April 30, 2017. Previously, these model notices had an expiration date of March 31, 2017.
Background Information About the Exchange Notice
If you are unfamiliar with the Exchange Notice requirement, below are a few key points to note:
- Under the Affordable Care Act, employers are required to provide all new hires with a written notice about the ACA’s Health Insurance Exchanges, which are also known as Marketplaces.
- Employers must provide the Exchange Notice to each employee, regardless of plan enrollment status or of part-time or full-time status.
- The DOL considers a notice to be provided “at the time of hiring” if the notice was provided within 14 days of an employee’s start date.
Support Available For Clients of CBG Benefits
While the DOL’s model Exchange Notice is comprehensive, customization is required by each organization. If you need any help personalizing your company’s Notice, please contact our team today.
In addition, if you would like to review whether your company is meeting its compliance requirements regarding the distribution of benefit-related notices, we are here to help.
Simply contact a member of our team by phone at 781-759-1222 today.