How to Create & Distribute the Healthcare “Exchange Notice” [Notice of Coverage Options: Part II]
Now that you understand what’s required of your business with the Notice of Coverage Options, it’s important you understand how to go about creating and distributing the Exchange Notice to new employees.
How to Create Your Exchange Notice
The good news? As an employer, you don’t need to worry about creating your exchange notice from scratch. The U.S. Department of Labor has created templated notices for your company’s advantage.
The DOL has made the process much simpler by providing model notices here (for employers who do offer a health plan to some/all employees) or here (for employers who do not offer a health plan). With the template, your business is able to create a notice specific for your company.
How to Distribute & Deliver Your Notice
Delivery of the Notice of Coverage should be free-of-charge to your employees and delivered through one of the following methods:
- First-class mail to your employee’s home
- Electronic delivery that is in accordance with DOL electronic disclosures. (Find out if you meet these conditions here).
If you employ non-English speaking workers, it’s important to follow the DOL’s guidance to distribute the Exchange Notice “in writing in a manner calculated to be understood by the average employee.” For model copies of the notice in Spanish click here (for employers who do offer a health plan to some/all employees) or here (for employers who do not offer a health plan).
For more information on the notice’s requirement and delivery options, click here.
Failing to Distribute the Exchange Notice
While there is no fine or penalty for failing to distribute the Notice of Coverage to your employees, it is simply assumed that employers will - in good faith - provide this helpful information to their employees.
Did you miss part 1? Read it here!
Continue to read part 3? Read it here!
Have more questions about the Notice of Coverage Options? Stay tuned for our additional posts on the subject or contact us today to learn more about how get-benefits can help!
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