{"id":303,"date":"2013-09-03T20:43:18","date_gmt":"2013-09-04T04:43:18","guid":{"rendered":"http:\/\/www.ddibenefits.com\/news\/?p=270"},"modified":"2013-09-03T20:43:18","modified_gmt":"2013-09-04T04:43:18","slug":"ddi-benefits-newsletter-september-2013","status":"publish","type":"post","link":"https:\/\/ddibenefits.com\/site\/2013\/09\/ddi-benefits-newsletter-september-2013\/","title":{"rendered":"DDI Benefits Newsletter | September 2013"},"content":{"rendered":"\n\n\n
\n

<\/a>Employer Notices:<\/h1>\n

Notice of the Exchange due before October 1<\/p>\n

Beginning January 1, 2014, individuals and employees of small businesses will
\nhave access to coverage through a new health insurance market. In Oregon, the
\nmarketplace is called Cover Oregon, and in Washington, it is called Washington
\nHealthplanfinder.<\/p>\n

The Affordable Care Act (ACA) requires all employers who are subject to the
\nFair Labor Standards Act (FLSA) to notify their employees by October 1, 2013
\nof the existence of these marketplaces and to provide information regarding
\ncoverage options.<\/p>\n

As part of providing this notification, employers will need to indicate if
\ntheir health coverage meets the minimum value standard set by the ACA. Most
\ncarriers have conducted this minimum value analysis on the plans for all groups
\nfor which they provide health benefits coverage. You should have received or
\nwill receive a letter from your insurance carrier indicating whether or not
\nyour plan meets the minimum value standard set by the ACA.\u00a0\u00a0 Following
\nis a link to the model notice: http:\/\/www.dol.gov\/ebsa\/pdf\/FLSAwithplans.pdf<\/a>.<\/p>\n

When
\nsending this notice to your employees, we encourage you to include DDI\u2019s contact
\ninformation (info@ddibenefits.com<\/a> or
\n503-206-5654) as a health insurance resource for your employees and their families.\u00a0 DDI
\nis an affiliated producer with Cover Oregon.<\/p>\n

Learn more \/ Get help<\/p>\n

Search
\nFAQ\u2019s at http:\/\/www.dol.gov\/ebsa\/<\/a>.\u00a0\u00a0 Contact
\nDDI with any questions regarding the model notice or the exchange.\u00a0 DDI
\nalso offers benefits outsourcing services which includes sending required employer
\nnotices on your behalf. Contact us for more info.<\/p>\n

^back to top<\/a><\/p>\n

Medicare D Notices due before Oct 15<\/p>\n

By Oct. 15 (beginning of the annual Medicare coordinated election period),
\nemployer groups that offer prescription drug coverage to employees should notify
\ntheir members of the creditable coverage status of their plan and of possible
\npenalties for late enrollment in Medicare Part D if their current coverage
\nis not creditable.<\/p>\n

As defined by the Centers for Medicare & Medicaid Services, coverage
\nis considered creditable if its actuarial value equals or exceeds the actuarial
\nvalue of standard prescription drug coverage under the Medicare prescription
\ndrug benefit.\u00a0 How do you know if your prescription plan is creditable
\nor not? Your insurance carrier should notify employers by October 1st of the
\nstatus or you can contact DDI.<\/p>\n

The Medicare Modernization Act imposes a late enrollment penalty on individuals
\nwho do not maintain creditable coverage for a period of 63 days or longer following
\ntheir initial enrollment period for the Medicare prescription drug benefit.<\/p>\n

How should I notify employees of the creditable coverage status of their prescription
\ndrug plan?<\/p>\n

The Centers for Medicare & Medicaid Services provide sample notices for
\nyour convenience.<\/p>\n