Employers to provide health exchange notice by Oct. 1 - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

Employers must provide health exchange notice to employees by Oct. 1

Posted: Updated:
  • Local NewsMore>>

  • North Central WV Weekend Outlook for April 18-20

    North Central WV Weekend Outlook for April 18-20

    Friday, April 18 2014 2:12 PM EDT2014-04-18 18:12:52 GMT
    With it being a holiday weekend, there's not much in the way of fairs or festivals scheduled, but there's still plenty to do around north central West Virginia. Saturday: Stonewall Resort, in Lewis County,
    With it being a holiday weekend, there's not much in the way of fairs or festivals scheduled, but there's still plenty to do around north central West Virginia. Saturday: Stonewall Resort, in Lewis County,
  • AAA Predicts Mild Easter Weekend Traffic

    AAA Predicts Mild Easter Weekend Traffic

    Friday, April 18 2014 1:47 PM EDT2014-04-18 17:47:34 GMT
    If you are getting ready to travel this Easter weekend, the good news is the traffic is not expected to be bad.
    If you are getting ready to travel this Easter weekend, the good news is the traffic is not expected to be bad. AAA predicts that traffic will not be much different than last year and that this weekend
  • Main Street Fairmont Offers Sign and Facade Improvement Grants

    Main Street Fairmont Offers Sign and Facade Improvement Grants

    Friday, April 18 2014 8:16 AM EDT2014-04-18 12:16:22 GMT
    Main Street Fairmont is looking to give away grants through the Sign and Facade Improvement Grant Program, which provides funding for beautification efforts in downtown Fairmont. The program is facilitated
    Main Street Fairmont is looking to give away grants through the Sign and Facade Improvement Grant Program, which provides funding for beautification efforts in downtown Fairmont. The program is facilitated

Another deadline is fast approaching under the new health care law.

By Oct. 1, employers must notify their staff members about the existence of the new health insurance exchanges, inform employees they may be eligible for a tax credit if the plan has a certain cost and lastly, employers must notify the employees they may lose employer contributions to health benefits plan if they decide to purchase from the marketplace.

If an employee starts after the Oct. 1 deadline, the employer must notify the employee within 14 days after his or her start date.

Although the U.S. Department of Labor no longer will pursue a penalty on employers failing to comply, businesses still should take the deadline seriously, explained Katherine Capito, a Charleston Dinsmore attorney and Tyler Williams, from Dinsmore's Columbus office.

"It's still good advice to comply with the law, regardless of there being no fines," Williams said.

Capito said not providing notice could trigger an audit or additional Department of Labor enforcement and a review of the employer's plan.

Both attorneys explained the Department of Labor provides model notices that employers must provide. Williams said the notice has to be provided in writing.

"You can't merely orally notify your employees," Williams said.

The notice requirement is for businesses subject to the Fair Labor Standards Act, Capito said. Capito explained this act applies to all employers engaged in interstate commerce grossing more than $500,000 annually— even if it's just one person making $500,000 in annual revenue.

The attorneys also explained the act covers businesses that do not gross more than $500,000. Capito and Williams said it applies to businesses with 50 or fewer full-time employees not subject to the health care law's employer mandate.

Other approaching deadlines under the Affordable Care Act include open enrollment for the marketplace, which starts Oct. 1; the individual mandate, starting in January and the employer mandate, going into effect in January 2015.