Deadline Approaches: Notify Employees Now Regarding Health Insurance Marketplaces

The Affordable Care Act requires all U.S. citizens and legal residents to have or to obtain qualifying health insurance coverage, effective January 1, 2014, or pay a tax penalty unless they meet certain criteria and receive an exemption from this requirement.  One way for Minnesota residents to fulfill this requirement is through the MNSure marketplace, where individuals can obtain health insurance.

The Affordable Care Act requires that employers who are subject to the Fair Labor Standards Act must provide their employees with a written notice containing information regarding health insurance marketplaces, such as MNSure, as well as options and costs, by October 1, 2013, though the Department of Labor has confirmed that there will be no fine or penalty if an employer fails to provide the notice.

Both MNSure and the United States Department of Labor offer model notices for employers to use.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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