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DOL Says No Fines For Failing to Provide Notice

September 17, 2013 by Bill Enright

On September 11, 2013, the Department of Labor (DOL) issued a Frequently Asked Questions (FAQ) document on the Notice of Exchange penalties. While the ACA requires that all employers to provide a written Notice of Exchange to new and current employees, the FAQ states there is no fine or penalty under the ACA for failing to provide the notice.

There are many reasons you may still want to provide the notice to all employees. One of those reasons is that it may help you avoid answering multiple questions during open enrollment. The notice answers employee questions about what the exchange is, how your health plan is different than the exchange plans and whether or not your plan is intended to be affordable and provide minimum value.

The notice also directs employee to get their questions answered by going to http://www.healthcare.gov

For more information, please see the Health Care Reform Bulletin, “FAQ on Exchange Notice Penalties”

National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Valerie Ortiz

Valerie Ortiz

Over the past 20 years, Valerie Ortiz has worn many hats at National Insurance Services. She currently heads up NIS’ Marketing Team where she helps to create and execute employee benefit communications based upon our public sector clients’ needs. Valerie brings order to the chaos and has a zeal for detail and a talent for organization.