Notice of Exchange Option is Delayed
In an FAQ issued January 24, 2013 by the Department of Labor, the employer mandate to provide employees with a notice of coverages available through the Exchanges is being delayed. The original required distribution date of March 1, 2013 has been delayed until the late summer or fall of 2013.
The Department of Labor FAQ states…..
“The Department of Labor has concluded that the notice requirement under FLSA section 18B will not take effect on March 1, 2013 for several reasons. First, this notice should be coordinated with HHS’s educational efforts and Internal Revenue Service (IRS) guidance on minimum value. Second, we are committed to a smooth implementation process including providing employers with sufficient time to comply and selecting an applicability dates that ensures that employees receive the information at a meaningful time. The Department of Labor expects that the timing for distribution of notices will be the late summer or fall of 2013, which will coordinate with the open enrollment period for Exchanges.”