The ACA* requires the Federal and State health insurance Marketplaces to issue a notice to employers when an employee purchases coverage in the Marketplace and receives a Premium Tax Credit. These notices serve as an early indicator that you should investigate the situation and determine whether an adequate, affordable offer of coverage was made, or whether your employee qualified for such an offer.
Receiving a notice from the Marketplace can be a warning sign that your organization may be at risk for a potential penalty assessment from the IRS**. Early investigation and, if warranted, response can help avoid costly penalty assessments down the road.
If you determine an appeal is in order, you must file that appeal within 90 days of the date of the notice.
If you would like to be alerted when we host future webinars about the Marketplace notices and penalty assessments, please contact us.