e3 Financial News
March 1st Deadline for Exchange Notices Delayed by DOL
Feb 01, 2013
Originally scheduled to take effect March 1, 2013, the employer requirement to provide notice to employees of the available State Exchange coverage has been delayed. On January 24, 2013, the Departments of Labor (DOL), Health and Human Services (HHS) and Treasury issued new Frequently Asked Questions (FAQs) on several topics under the Patient Protection and Affordable Care Act (PPACA). The FAQ confirms that employers will not be required to provide the Exchange Notice to their employees until critical information is defined, including:
- The DOL is expected to issue regulations on the Notice
- The IRS is expected to provide guidance on minimum value
- Information on HHS’ educational efforts
The Notice has been delayed to late summer or fall of 2013 pending this information and to coordinate with open enrollment of the Exchanges, which begins October 1.
The FAQ also notes that employers will be provided with model, generic language for the Notice and an alternative template available for download on the Exchange website. Click here for further details about the FAQ on the DOL’s website.
As always, we will continue to provide updates as we receive them.