Does your business have employees? If the answer is yes then you have a notification requirement!
With the Affordable Care Act (ACA) or “Obamacare” there is notification that should be provided to every employee and to all future new employees. These notices are required by the Department of Labor.
The Department of Labor has provided sample forms and they are different for companies that provide health insurance than companies that do not provide health insurance.
The notice provides the employee with the companies health insurance info as well as information on the Health Insurance “Marketplace”
The employer should complete the information concerning health insurance and provide it to each employee.
These notices should be provided to current employees by October 1, 2013 and to all new employees at the time they are hired.
We recommend employers have the employees acknowledge receipt of the form. An sample acknowledgement is attached.
If you have a company insurance plan, your carrier has provided forms or your company does not provide health insurance the Department of Labor has provided sample notifications: http://bdsaccounting.com/free-business-forms.htm
The current law does not require Employers with total revenues under $500,000 notify employees. However, we recommend that all businesses – even business where the only employee is the business owner – notify all employees.