Are you Prepared for the Exchange Notice Requirement?
Fact 1: The Affordable Care Act (ACA) requires all employers to provide their current
employees with an Exchange Notice.
Fact 2: October 1, 2013, marked the deadline for mailing the Exchange Notice to all current employees.
Fact 3: The Exchange Notice is designed to provide employees with information about
their group health coverage. It informs them if their coverage meets the
minimum value standard and is affordable based off an employee’s wages.
Fact 4: BeneFLEX is an Expert and is here to handle your Exchange Notice Requirements.
The Exchange Notice is required for all employees, part-time or full-time, regardless of the company’s election of group health coverage, and only to COBRA participants due to a reduction in work hours. The Exchange Notice must continue to be provided to all newly hired employees within 14 calendar days of their hire date.
Click the links for BeneFLEX HR Resources Inc. to process the required Exchange Notice for your organization.
Directions for completing Exchange Notice Application:
- Complete all required fields on the “Health Care Reform Questions” tab.
- Import employee information into the “Current Employees” tab.
- New hires during this transition time and clients who elect ongoing coverage must submit new employee information on the “New Employee” tab.
- Once the application is complete, save the workbook to your computer as your company name and then and return it in an email to: firstname.lastname@example.org with subject line: Exchange Notice Application. (Note: If you receive a pop-up notification when saving the file to your computer prompting you to save the file in another format for additional security, please select No). Do not change the format of this file.
- You will receive a confirmation email once your notice has been received. (Note: If you receive a pop-up notification when saving the file to your computer prompting you to save the file in another format for additional security, please select No).
For more information regarding the Exchange Notice Requirement, Minimum Value Calculator and Actuarial Value Calculator, please contact BeneFLEX or visit the Department of Labor at http://www.cms.gov/cciio/index.html .
Thank you for choosing BeneFLEX HR Resources Inc!