Oct. 1 deadline to inform employees of health insurance coverage

Health insurance marketplaces will open Oct. 1. By this date, all businesses subject to the Fair Labor Standards Act — typically those with at least two employees and $500,000 in revenue per year — must notify full- and part-time employees about the marketplaces.

 

This notification requirement also applies to staffing firms.

 

You must distribute this notice whether or not you currently provide health insurance and regardless of your firm’s size. (While those with fewer than 50 full-time equivalent employees do not need to offer health insurance coverage under the Patient Protection and Affordable Care Act, they still need to notify employees about health insurance marketplaces.) Employees hired after Oct. 1 must receive the notice no later than two weeks following their hire date.

 

You can obtain a notice from the U.S. Department of Labor website and distribute it in person, by first-class mail or electronically.

 

There are currently no fines or penalties for not distributing the notice; however, employers are strongly urged to comply.