Now that it’s law, employers are legally obligated to comply with PPACA’s requirements. One such requirement is that employers are required to send to all employees a health insurance exchange notice.

The notice should contain.

• Exchange information – Employer’s requirement to notify  employees of the existence of the exchange, the services provided by exchange and how employee can contact or access the exchange.
• Cost  – Employer must inform employees of whether the employer’s offered      plan covers 60% of health care costs. If not, employer must inform employee that they may be eligible for a premium subsidy or a cost-sharing reduction by purchasing coverage on the exchange.
• Consequences – Employer must inform employee that if they purchase coverage on the exchange, they will loose any employer contribution for the company’s      health plan.

The implementation of this law will contain deadlines.

• To begin, you should determine if your health plan provides the required 60% cost of care or if changes need to be made.
• Start drafting the required notice to employees

For help with these questions and issues, please call us at CanalHR 504 837 8680 or online at www.canalhr.com

We can help with this and the other items that PPACA will require employers to address.