Businesses Urged to Record Notification of Health Insurance Marketplace

The U.S. Department of Labor recently posted a Frequently Asked Questions webpage regarding the October 1 requirement for employers to provide notice to their employees of the new coverage options with the Health Insurance Marketplace. According to the FAQ, there is no penalty for not providing the notice.

The Labor Department, however, is still requiring employers to have notified their employees of the Marketplace by the deadline. The department has not released how they plan to track employer notification, therefore we are encouraging employers to keep a record of what, how and when notification was sent to employees. 

For additional information on Health Care Reform or to view sample notices, please visit the Health Care Reform page on our website.

Eide Bailly's National Tax Office serves as a resource for clients to help analyze complex tax issues related to business decisions. Our professionals are committed to helping clients stay informed about tax news, developments and trends through various specialty areas, including cost segregation studies, wealth transfer, state and local taxation, international tax, tax exempt organizations and tax legislation.