October 1, 2013 ACA Notice Requirements for Employers
Confusion reigns regarding the Patient Protection and Affordable Care Act ("PPACA") and obligations to provide notices to employees of information regarding the new Health Insurance Market Place ("Exchanges") by no later than October 1, 2013.
WIB has received numerous calls and inquiries concerning the October 1, deadline over the past several days. Understandably, some of the requirements of the PPACA get lost in the myriad of news reports and debates about extending time limits and attacks on program funding.
WIB is therefore publishing an article by Andy DeClercq with links to model notices. Andy is an attorney with Boardman & Clark, LLP - the law firm retained by WIB to assist WIB members.
In the meantime, a couple of key issues include:
Number of Employees: The October 1, 2013 Notice Deadline is not limited to employers with more than 50 employees. The Notice requirement applies to all employers covered by the Fair Labor Standards Act ("FLSA"). The FLSA covers all employers with at least one employee and at least $500,000 annual business revenue.
Employer Coverage: The October 1, 2013 Notice Deadline is applicable whether or not the employer offers any health insurance to its employees. The model notices used will be different for employers offering health plans from those who do not.
Full vs. Part-Time Employees: The Notice requirements are applicable to both full and part-time employees.
New Hires: Employees hired after October 1, 2013, must be provided applicable notices at the time of hire or within 14 days thereafter.
COBRA Notices: Required COBRA notices for employees have been modified to reflect information on the exchanges.
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The SHOP Marketplace in Open
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Economy Adds 200K Jobs, Unemployment Falls to 7%
The nation's jobless rate hit a five-year low on Friday as the nation added 203,000 jobs in November and the unemployment rate fell to 7 percent.
It's the second month of large job gains in a row, and the November figures were higher than expected.
The unemployment rate hasn't been this low since November 2008, the month President Obama was first elected, when it stood at 6.8 percent.
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