Marketplace Notices to Employers: What They Mean, What to Do
This year, for the first time ever, employers will begin receiving notices from the Federally Facilitated Marketplace indicating that one of their employees signed up for health coverage through the Marketplace and received advanced premium subsidies for that coverage. Attorney Nicole Elliott explains what these notices mean and what actions should be taken if one is received.
“The ACA generally requires that applicable large employees offer health coverage that is affordable and of minimum value to their full-time employees and their dependents or face a tax, often referred to as the employer “pay or ‘play” provision or the employer mandate,” explained Ms. Elliott. “In such a case, advance credits can begin and the Marketplace is required to send the employer a Marketplace notice. This is the first year FFM is sending out the notices. It’s worth noting that there is no commitment to send a notice to all employers, and it can send a notice only if the individual provides a complete employer address. As a result, some employers expecting a notice may not receive it.”