The PPACA requires employers to provide a notice to their employees about
the applicable state or federal health insurance exchange and explain
how that exchange will work, and also explain various cost sharing and
tax consequences of participating in the exchange. The statute requires
the notice to be provided to employees by March 1, 2013.
However, on January 24, 2013, Federal Regulations postponed the date that employers must
provide the exchange notice. The deadline is now tentatively pushed out
to late summer or fall of 2013, although the agencies did not provide a
firm date. The government also announced that it is considering
providing a model exchange notice that employers could use to satisfy
California has moved full force ahead to create its exchange, called Covered California. The goal of the exchange is to enroll nearly 2 million new people in Medi-Cal, and helping an additional 2 million Californians to purchase health coverage with federal subsidies for families earning about $92,000 or less annually. Covered California is an internet based service that will also provide coverage to certain employers through the SHOP (Small Business Health Options Program).
Just today, Covered California issued it’s initial website with costs for plans of insurance.
Employers should contact your attorney, health insurance provider and/or broker to make sure your company is in compliance with the law.
Posted by Matthew L. Kinley, Esq.