Aug 09, 2018
The IRS Provides this FAQ on Notifying Employees of Health Insurance Marketplaces:
Q: Can an employer be fined for failing to provide employees with notice about the Affordable Care Act's Health Insurance Marketplace?
A: No. If your company is covered by the Fair Labor Standards Act, it should provide a written notice to its employees about the Health Insurance Marketplace, but there is no fine or penalty under the law for failing to provide the notice. The notice should inform employees:
- About the Health Insurance Marketplace;
- That, depending on their income and what coverage may be offered by the employer, they may be able to get lower cost private insurance in the Marketplace; and
- That if they buy insurance through the Marketplace, they may lose the employer contribution (if any) to their health benefits
- Model Notice for employers who offer a health plan to some or all employees
- Model Notice for employers who do not offer a health plan
The model notices are also available in Spanish and MS Word format at http://www.dol.gov/ebsa/healthreform/. Employers may use one of these models, as applicable, or a modified version. More compliance assistance information is available in a Technical Release issued by the US Department of Labor.
