What is a marketplace exchange notice?
A Marketplace Notice is sent to an employer when an individual enrolls in coverage through an exchange, is deemed eligible for a premium subsidy and provides an employer’s address on the enrollment application.
What is ACA marketplace exchange?
Another term for the Health Insurance Marketplace®, a service available in every state that helps individuals, families, and small businesses shop for and enroll in affordable medical insurance. The Marketplace is accessible through websites, call centers, and in-person assistance.
What is the length of the special enrollment period for individual exchanges?
60 days
Depending on your Special Enrollment Period type, you may have 60 days before or 60 days following the event to enroll in a plan. You can enroll in Medicaid or the Children’s Health Insurance Program (CHIP) any time. Job-based plans must provide a Special Enrollment Period of at least 30 days.
What is the health insurance marketplace notice requirement under the Affordable Care Act ACA )?
Under the Affordable Care Act (ACA), employers covered by the Fair Labor Standards Act (FLSA) are required to provide employees with a written notice of the existence of the health insurance marketplace/exchange. The U.S. Department of Labor (DOL) makes available a model notice form on their website for downloading.
What is a model notice?
The U.S. Department of Labor has two model notices to help employers comply. One model is for employers that do not offer a health plan and another model is for employers that offer a health plan to some or all employees. Employers may use one of these models, as applicable, or a modified version.
Is marketplace health insurance the same as Obamacare?
The federal Health Insurance Marketplace, which is also called the “Marketplace” or “Exchange,” is the website where individuals can browse various health care plans available under the Affordable Care Act, commonly known as “Obamacare,” as well as compare them, and purchase health insurance.