Under the Patient Protection and Affordable Care Act, employers are required to provide employees written notification of the following:
- The existence of an exchange, as well as a description of services and contact information;
- How the employee’s coverage relates to the bronze level (60 percent of the actuarial value of the plan); and
- That the employee may be eligible for a tax credit and cost sharing reductions if the employee purchases coverage through the exchange.
Notification is at time of new hire or, for existing employees, by March 1, 2013.
For more information, please refer to section 218b of the federal guidelines.