Health insurance exchange requirement delayed indefinitely

health insurance exchanges

health insurance exchangesThe regulation for employers to notify their workers in writing by March 1 has been put on hold.

Federal regulators have just announced that there will be an indefinite delay to the part of the healthcare law that would have required employers to provide a written notification to their workers by March 1, which would inform them of the availability of the health insurance exchanges in their states.

The regulation has been delayed until a time that they will “become applicable”.

The Department of Health and Human Services, of Labor, and of Treasury jointly issued a set of frequently asked questions which stated that this reporting requirement would not become effective until a later date when it would have greater meaning and more information would be able to be provided.

There were several reasons cited by the regulators about the delay in the health insurance exchange notification.

Among the reasons that the regulators have pushed back the March 1 requirement for reporting, was that they wished to provide employers with a larger amount of time in order to achieve a closer coordination with the open enrollment for the health insurance exchanges.

The FAQ issued by the regulators said that “We are committed to a smooth implementation process including providing employers with sufficient time to comply and selecting an applicability date that ensures that employees receive the information at a meaningful time.”

It is now believed by the regulators that the date for the notification will be changed to some point in the summer or fall, for improved coordination with the open enrollment date for the health insurance marketplaces, which is on October 1. They also stated that they are currently considering providing employers with some “model, generic language” that they will be able to use for the notifications.

The delay in the health insurance exchange notification deadline was expected, and many experts are applauding the decision. Some felt that employers were feeling concern over the deadline, which was rapidly approaching. The hope is that by coordinating the notices with the open enrollment period may also assist employers in effectively complying with this requirement.

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