Question: I have seen this on many ACA timelines, but have not seen any guidelines on how employers are supposed to notify their employees, or what specific information must be included. Have those guidelines been set? Where can I get more information on how employers notify their employees of Exchanges?
Answer: The ACA places three requirements on employers to disclose information to employees either at the time of hire or by March 1, 2013 for current employees:
- Employers must provide written notice informing employees about the state’s Exchange, including a description of how the employee may contact the Exchange for assistance.
- The employer must notify employees if the plan offered by the employer is inadequate, meaning it does not meet the actuarial value of 60 percent. The employer must let employees know that they may be eligible for a premium tax credit and a cost-sharing reduction if they purchase a health plan through the Exchange.
- Employers must notify employees that if they purchase a health plan through the Exchange, the employee may lose the employer’s contribution to health benefits offered by the employer.