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Federal Health Care Reform Law

If all goes according to plan, October 1, 2013, will be a milestone in the implementation of the federal health care reform law. That’s the date open enrollment in the Health Insurance Marketplace (exchanges) is slated to begin.

In conjunction with the rollout, most employers will be required to give their employees written notices alerting them to the Marketplace’s existence and the potential availability of premium tax credits if they purchase insurance through the Marketplace. The notice must warn employees that they may lose their employer’s contribution (if any) to health benefits if they purchase insurance through the Marketplace.

The U.S. Department of Labor’s Employee Benefits Security Administration has posted model notices on its website. Notices must be provided to current employees no later than October 1, 2013, and to new hires within 14 days of their start date.

Original content provided by: Client Line Newsletter