You may remember the first compliance requirement in the law for businesses was to begin in March of 2013. The feds delayed it because they did not know what to tell people. Here is an update we found. According to the Department of Labor’s website more information will come out this summer. They now say:
“The Department’s commitment to a smooth implementation process includes providing employers with sufficient time to comply and select an applicability date that ensures that employees receive the information at a meaningful time. The guidance further stated that the Department expects the timing for distribution of notices will be the late summer or fall of 2013, which will coordinate with the open enrollment period for the Marketplace.”
Experts are predicting things to start picking up in the next couple of months with October 1st being the beginning of open enrollment. If you offer health insurance click here for a sample form to notify employees from the DOL website. We will remain on top of these compliance issues and have all of the appropriate forms when they are finalized and made available by the government.
The best thing you can do is begin preparing now for the reporting requirements and other mandates in the Obama healthcare reform law. The summary of benefit coverage and exchange notifications are the beginning the numerous new compliance issues businesses will need to do. E.D. Bellis is here to help navigate all of these issues and our blog HealthReformExplained.com has all of the facts about Obamacare in language you can understand. Follow us on Twitter and Facebook @AmericasCanary.