Employers Must Act Soon (deadlines apply to all future new hires):
[Employers also read Huge Penalties for Reimbursing employees for their Individual Health Insurance Policies]
- This Department of Labor (DOL) regulation may surprise small employers who do not yet offer employee healthcare coverage: The requirement hits them, too. Basically, the DOL requires that employers with as few as one employee hand out a disclosure form, even for 1099 employees. Further, the DOL has adopted different notices for different employer situations. Make sure you are using the correct notice: Read more here.
- COBRA Notices- Amend existing COBRA notices to include new Department of Labor required language for employer COBRA disclosures. Your COBRA administrator or vendor should be updating this notices.
- Move the money: It is time to allocate monies you received in July, on behalf of your employees i.e. the Medical Loss Ratio (MLR) rebates. Can you keep the refund? Read our article about this very question.
- Download and properly distribute Summary Benefit Coverage forms by the appropriate deadline. For a quick reference, download a free PDF Summary of SBC Requirements, which outlines employer requirements and deadlines. Kaiser employers read a related article here.
As the individual marketplace continues to deteriorate, the small group market has gained a firmer footing, including stable PPO networks and easier participation rules with Kaiser and traditional PPO plans. Is it time to review available small group plans? Reserve your appointment early for Open Enrollment, which begins this November. Find local assistance in San Jose, Santa Clara and the San Francisco bay area or via telephone, throughout Northern and Southern California..
or view online pricing, free of charge