Randy J. Elder, CPA, P.C.

Arizona Health Insurance Marketplace

Arizona Health Insurance Marketplace: Employer Reporting

Beginning October 1, employers must begin notifying employees of coverage options under the Affordable Care Act (ACA). Hopefully, this isn’t news to you, but if it is, or you know about the date but are still not sure what you need to do about the Arizona Health Insurance Marketplace, you are in the right place. Over the past few weeks there has been an onslaught of information about the ACA, but if you are like most small business owners, you likely have more questions than answers at this point. I have gone through the information and will point out what I believe are the key pieces of information small business owners must know now to tackle the first hurdle.

Employer Reporting Requirement

To coincide with the October 1 open enrollment start date for health insurance coverage, through the Arizona Health Insurance Marketplace (Marketplace), employers are also required to notify employees of coverage options available through the Marketplace. Some details on who must be informed, what you must include in your notification and a few tax related points you should know are listed below.

Help for Employers

Fortunately for us all, the U.S. Department of Labor has developed what they call model language or templates for us to use. There are two templates; one for employers who offer a health plan and a different model for those who do not provide a plan. These are found at Employers who Offer a Health Plan and Employers who DO NOT offer a Health Plan.

For more information, visit www.healthcare.gov and www.dol.gov/ebsa/healthreform.

If you have any questions about the tax implications and the Arizona Health Insurance Marketplace, please contact me.