Health Care Reform Deadline for All Employers is October 1
Sep 10, 2013
Just as the new school year gets into swing and your desk is flooded with a fresh stack of paperwork, the October 1 Health Care Reform deadline should appear on your to-do list. If you have at least one employee and generate at least $500,000 in annual revenue, please pay attention: There’s an Obamacare requirement that applies to you—and you must act by Oct. 1, 2013. Penalties for businesses that don’t comply potentially reaching $100 per worker per day.
What is the October 1 deadline again?
All companies, regardless of size, are required to provide notice to their employees of available insurance coverage through the employer or through the public exchange option that will be established by the federal government or the states under the Affordable Care Act.
For new employees hired on or after October 1, 2013, employers must provide notice at the time of hiring (or within 14 days of hiring in 2014 and thereafter).
For current employees that were hired before October 1, 2013, employers must provide notice not later than October 1, 2013.
The notices must be provided in writing in a manner calculated to be understood by the average employee. Notice may be provided by first-class mail or electronically if the requirements of the Department of Labor’s electronic disclosure safe harbor are met. The Department of Labor has provided information about the requirement and model notices (one for employers with health plans and another for employers without health plans) on its website.
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