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Will your employer give notice this October? Employers face October 1 deadline to issue Notice of Exchange

September 11, 2014 //  by admin

Brabo Benefits
Scott Hokanson, owner of Brabo Benefits, helps Massachusetts employers stay compliant with the Notice of Exchange requirement

PLYMOUTH, MA…

On October 1, employers of all sizes in the Commonwealth of Massachusetts are required to give notice to their employees—a notice of exchange, that is. This special notice alerts workers of the availability of health insurance through the government program, known as the Healthcare Marketplace or Exchange.

The Exchange provides a healthcare insurance option for workers whose employer does not offer this benefit. Workers whose employers offer healthcare benefits also have the option of purchasing their healthcare insurance from The Exchange if those benefits do not meet certain standards.

“While most employers who offer health insurance do meet the standards, the issuing of the Notice of Exchange by October 1 is important because workers who opt for the Exchange might also be eligible for a federal subsidy,” said Scott Hokanson, president of Brabo Benefits, a healthcare benefits company based in Plymouth, MA.  “Making sure your employees know what resources are available to them is very important.  Often, employees enrolled in my clients’ group coverage may be eligible for some form of subsidized care.”

As one of its services, Brabo Benefits writes and sends the Notice of Exchange on behalf of its clients. Brabo Benefits will also act as the point of contact for all healthcare insurance-related matters for its clients.

“For a lot of our small business clients, it’s a big enough challenge to keep up with the things they need to do on a day-to-day basis, never mind keep up with twists and turns of health care reform,” said Hokanson. “By helping them select health insurance that meets the standards set by national and local health reform and filing the necessary paperwork on their behalf, we can help them remain compliant and focusing on what they do best—their business.”

In addition to Notices of Exchange, Brabo Benefits also takes care of other annual mandatory notices—e.g. Women’s Health and Cancer Rights; Summary of Plan descriptions—on behalf of its clients.

For questions regarding the upcoming Notice of Exchange, call 617-733-6471 or e-mail shokanson@brabobenefits.com.

A friend with benefits – Brabo Benefits

Based in Plymouth, Massachusetts, Brabo Benefits provides the full package of employee benefits packages, including: health, dental, life, disability, and stop loss insurance. In addition  Brabo Benefits offers consultative services, such as underwriting support and health care reform compliance. For more information, visit www.brabobenefits.com or call 617-733-6471.

 

Category: Client NewsTag: employee health benefits

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