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Employers' Responsibility Under the Affordable Healthcare Act (Obamacare)

As many of you are aware, the Affordable Healthcare Act (Obamacare) was passed, even though many of the specifics of the law continue to be debated in the House and Senate.  Many of you may not be aware, however, of your specific requirements as an employer under this new law.  This is the purpose of this blog post.

As it’s written now, no employer will be required to provide healthcare to their employees.  There may be a “fee” charged for large employers (more than 50 employees) who opt not to provide healthcare to their employees, but they won’t be in violation of any criminal laws.

However, if you employ at least one person and have revenue of at least $500,000, you are required to notify your employees of the new healthcare marketplace (exchange) that is coming online October 1, 2013.  You are required to do this by October 1, 2013 and also to provide the same notice to any newly hired individual at the time of their hiring.  Individuals will be able to shop for and compare various healthcare insurance options available to them on the website www.healthcare.gov.  We encourage all of you to explore this new site once it comes online to familiarize yourselves with it.  This will enable you to help your employees answer any questions they may have regarding the new healthcare laws for 2014.

Below, you'll find a link to the official notice sent out by the Department of Labor, which details the requirement outlined above.  In addition, there's a link to a Businessweek article you may find interesting about this topic.  You'll also find links to the sample notices you may use to send to your employees.  One is for employers who currently offer health insurance to their employees, and the other is for employers who do not currently offer it. 

Please contact us if you have any questions or would like to talk more about the specific implications for you and your business.  We appreciate the opportunity to serve you.

Official Department of Labor notice:   http://1.usa.gov/10qVb0v

Businessweek article:   http://buswk.co/1fwMZ66

Sample notice for employers with current health plans:  http://1.usa.gov/Yv59jM

Sample notice for employers without current health plans:  http://1.usa.gov/13AKgoe

 

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