
Notice of Coverage through the Benefit Exchange
February 18, 2015
Starting in 2015, the employer mandate is being phased in and employers with 100 or more full-time equivalents (FTEs) may pay an additional tax on any eligible individuals who are not offered coverage or for whom coverage is unaffordable. In 2016, employers with 50 or more FTEs will be required to comply as well.
Overview
Attached is a standard form letter that is sent by the Washington Health Benefit Exchange whenever a person is eligible for a health insurance premium tax credit and identifies that you are their employer. This letter is sent as a courtesy to the employer, and a response is not expected. If you receive a similar letter with regards to one of your employees, you do not need to reply to the letter.
Under the employer shared responsibility rules, employers and benefit providers are required to report annually on employees’ eligibility for coverage, and whether they enrolled in the plan. Therefore, you will need to keep track of when an employee becomes eligible for coverage, when coverage was offered, and whether the employee accepted the offer. More detailed information on reporting requirements will be discussed in the Assurex Global webinar on March 26, 2015.
Summary
If you receive a letter from the state exchange, our recommendation to you is to file it in the employee’s personnel file, and make sure your employer records accurately reflect the employee’s decision to waive coverage under your plan.
Washington Health Plan
Finder Employer Letter
The views and opinions expressed within are those of the author(s) and do not necessarily reflect the official policy or position of Parker, Smith & Feek. While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it.
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