The Sheridan Chamber of Commerce has issued an alert regarding the Affordable Care Act.
Under the law, Chamber executives say all employers covered by the Fair Labor Standards Act must provide a written notice to their employees about the health insurance marketplace by today. This can be done, according to the release, by first class mail or email.
The notice goes on to say employers should let their employees know that depending on their income and what coverage may be 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 to their health benefits.
There is no fine or penalty under the law for failing to provide the notice, but employers need to do this, according to the Chamber executives, so employees are properly informed about their options.
The U.S. Department of Labor has two model notices to help employers comply. There is one model for employers who offer a health plan, whether or not all employees are covered by the plan, and another model for employers who do not offer a health plan.