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will be up and running October 1 for enrollment in 2014. Many employers are also facing an October 1 deadline that imposes a paperwork burden. By that date under the Affordable Care Act, most employers are required to provide a notice to each employee explaining their options available under the law. Here are answers to questions employers are asking about the notice requirement.
On Part B of the forms, you will see information employees will need if they plan to purchase coverage on the exchange, assuming they are eligible. The Part B information is needed by employees who apply to their state's exchange (or the federal version, if no state-run exchange exists). They must complete a required questionnaire to determine their eligibility. On Part B of the model notice for employers that do currently offer health coverage, there are several blank spaces requesting information about the health plan. Since the law doesn't actually require you to provide the information, and because some of the information may be hard to dig up, some legal advisors say that employers may decide to disregard some or all of Part B, especially if the information is uncertain or likely to change.
A plan with a $3,500 medical deductible, $0 drug deductible, 60 percent plan medical expense cost-sharing, 75 percent plan drug cost-sharing, a $6,400 maximum out-of-pocket limit, and drug co-pays of $10/$20/$50 for the first, second and third prescription drug tiers, with 75 percent coinsurance for specialty drugs.