Monday, September 9, 2013

More on Online Marketplace Disclosures to Employees

The other day I wrote about the mandatory notification the Department of Labor is requiring of most employers regarding the opening of the health insurance exchanges.  There, I give you links to the Department of Labor site so that you can find out what you need to do as well as some forms you can work from.  The deadline is October 1, which is right around the corner.

I received my notice from Saginaw Valley State University a few days ago.  Unlike many business regulations, Obamacare's employer mandate applies to not for profits as well as for profit businesses.  It even applies to state employers like SVSU.

I read through the notice and it's about as clear as it can be.  Unfortunately, that might not be clear enough for most people to understand exactly what's happening.  Perhaps it should say something like this:

1.  If you have insurance through employment at SVSU, you can drop that coverage and get a policy on the exchange but you will not be eligible for any subsidies and will have to pay full price.

2.  If you do not have insurance through SVSU and are not eligible for it, you can go to the exchange beginning October 1 to get coverage beginning January 1.  You might be eligible for a subsidy to lower your insurance costs depending on your income.

I'm just not sure most people will know phrases like "benefits eligible" or "exchange marketplace" or "open enrollment period" mean.  Just a hunch, sometimes people know a lot more than we give them credit for.

Now for Today's Obamacare headlines:

Rightwing Rants

Leftwing Cheerleading

Hard News

For Industry Insiders

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