Guidance Issued on Oct. 1 Affordable Care Act Notification
The Labor Department has issued guidance stating there will be no fine or penalty imposed on employers covered by the Fair Labor Standards Act for failing to provide an “Exchange Notice” to employees by Oct. 1 as required by the Affordable Care Act.
According to the guidance document, employers should inform employees about the health insurance marketplace; that, depending on their income and coverage 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.
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