Lots of Peril for employer groups if they do not adhere to Obamacare rules.
As we close in on the deadline requirement to distribute the Healthcare Marketplace Notice, the Dept. of Labor (DOL) has issued guidance that an employer will not be fined or penalized for failing to provide such notice. The new guidance states that employers “should” distribute the notice.
- A $110 per day fee can be awarded to employees when an employer fails to provide an ERISA SPD (as described in the Notice).
- The Patient Protection & Affordable Care Act (PPACA) imposes a $100-a-day general non-compliance penalty. This general penalty requires employers to either (a) correct compliance failures within 30 days of discovery or (b) self-report on IRS Form 8928 a $100-a-day penalty for failing to comply for each day the employer filed to comply with a PPACA mandate.
What other things can result in $100-a-day penalties?
- Violating the limits restrictions.
- Failing to extend coverage to dependents through age 26.
View original post 133 more words