Exchange Notification Reminder

 The very busy renewal date of December 1, 2014, is fast approaching. This notice is to remind you that each employer group must give their employees a Marketplace (Exchange) notification.

 

 

 

The first link below is for employer groups that currently do offer coverage.

The second link below is for an employer that does NOT offer coverage to employees. 

Please remember this notification is for the states of Pennsylvania and New Jersey. The form also works for any employer who is based in an FFM (Federal Facilitated Marketplace) State. It is NOT compliant in NY, MD or any other state that provides their own State based exchange.

 

Click here to view – FLSA With Plans

Please review the entire form carefully. Some important items to note on the General information page:

  • Open enrollment is listed as beginning in October. It will actually begin on NOVEMBER 15, 2014 for a January 1st 2015 effective date.
  • When an individual applies for tax credit, the amount of credit is based on the household income of that individual. (Those the employee claims on his tax return).
  • If the employer offers coverage that meets Minimum Value and is affordable, (9.5% or less of box 1 W-2 wages) then the employee cannot apply for tax credit. (based on the lowest plan offered to the employee for the single rate).
  • Anyone can purchase a plan on the Marketplace. If an individual waives the employers plan, he also waives employer contributions. He would pay for the Marketplace plan using after – tax dollars.

Part B

  • All information in PART B must be completed by the employer.
  • Questions 13-16 are OPTIONAL. The employer does not need to complete these.

 

 

The second link is for an employer that DOES NOT OFFER coverage to it’s employees. They simply needs to complete the Part B information and give it to their employees. It’s very short and simple. Click here to view – FLSA Without Plans

 

 Please contact your Total Benefit Solutions Account manager at (215)355-2121 if you have any further questions, concerns or require assistance distributing the forms.