Group Coverage Options - DOWNLOAD HERE
It is recommended that you distribute the attached notice above to your employees prior to October 1st. (Future new hires should receive it within 15 days of hire date.) There are no fines for not distributing it prior to October 1st, per the DOL notice dated 09/11/13.
This notice is to inform your employees of the opening of the Federally Facilitated Marketplace and their options to purchase insurance through the Marketplace (formerly called Exchange) which is scheduled to open 10/1/13. We believe the opening may be delayed due to security issues. As of this date, we still do not have plan designs and rates available for quoting the carriers on the Marketplace, so several areas are running behind schedule.
We are registered enrollers for the Marketplace and can assist your employees if they contact us at 888-883-5290 and/or use our FFM Enroller # JKINZIE49316@616 and NPN # 8049289 on their application. The majority of employees will not be eligible for a subsidy, due to the premium assistance they receive from you, their employer. However, spouses and dependents may be eligible for a subsidy, depending on several factors. Part time workers are encouraged to contact us for assistance in purchasing insurance on or off the Marketplace, depending on their situation. Penalties for not having coverage are 1% of adjusted gross income on 2014 taxes, and increase in subsequent years.
We wish to be the point of contact for your employees in order to ensure they have the proper information regarding your plan and contribution. If incorrect information is reported to the Marketplace, your business may be subject to a fine for an employee who received a subsidy. It is easier to prevent a problem than fix it when it comes to fines. The fines are also not tax deductible. This is complicated and ever changing.
Please contact us with any questions or concerns you may have. We are here to help you manage your employee benefits.