March 1st Exchange Notice Requirement Delayed

The Fair Labor Standards Act (“FLSA”), as amended by Health Care Reform, requires employers to provide each employee, at the time of hiring (or originally no later than March 1, 2013 for existing employees), a written notice informing the employee of the existence of the Exchange. The notice also requires a description of the services offered within the Exchange, contact information, as well as additional financial information for employees pertaining to the Exchange.

To date there have been no regulations issued regarding the format and content of the Exchange Notice. Thus, employers were unsure what specifically needed to be contained in such notices. The Department of Labor recognized the need for additional employer guidance and, thus, has stated that employers are not required to comply with this requirement until such implementing regulations are released.

 March 1st Exchange Notice Requirement Delayed

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The information provided is for informational purposes only and does not constitute legal advice. The information above contains only a summary of the applicable legal provisions and does not purport to cover every aspect of any particular law, regulation or requirement. Depending on the specific facts of any situation, there may be additional or different requirements. This is to be used only as a guide and not as a definitive description of your compliance obligations.