FAQ on Notice of Coverage Options for ACA’s New Health Insurance Marketplace

In a brief Frequently Asked Question (FAQ) document quietly issued yesterday, the U.S. Department of Labor formally clarified there is no penalty associated with provision of the Exchange Notice.  The guidance states that employers “should provide a written notice to its employees about the Health Insurance Marketplace by October 1, 2013, but there is no fine or penalty under the law for failing to provide the notice.”  Therefore, employers should send out the Exchange Notice, but there would be no penalty if someone is missed. (This FAQ does not state or imply that employers no longer have to send out the notice.)

A link to the FAQ can be found here.