Park City, Utah (PRWEB) September 13, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on the employer notice of health coverage.
According to Zane Benefits’ website, October 1st is right around the corner, and that means that the deadline for employers to provide notification to employees about their health coverage options and the health insurance marketplaces is as well.
3 Things For Employers to Know About the Notices:
If you have not yet provided notice to employees, here are three things to know.
(1) All employers subject to FLSA must provide a written notice to all current employees by October 1, 2013. For employees hired after this date, the information must be provided at time of hire.
(2) The notice needs to include the following information:
a) A description of the health insurance marketplace including a description of the services provided by the Marketplace.
b) Notification that the employee may be eligible for premium tax subsidies through the marketplace if their company's health insurance plan does not offer affordable, minimum essential coverage.
c) If the employee purchases a qualified health plan through the Marketplace, the employee may lose the employer contribution to any health insurance plan offered by the employer and that all or a portion of such contribution may be excludable from income for Federal income tax purposes.
(3) The Department of Labor (DOL) has provided two sample notices employers can use, or employers can create their own with the standards provided.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.