Health care reform has imposed many new obligations on employers. One such obligation is the requirement for employers to provide notice to all employees of the availability of health insurance marketplaces by October 1st of each year and within 14 days from the employee hire date. Don't let this seemingly simple task surprise you. It will require more resources than you might think.
For employers, the Marketplace component of the Affordable Care Act (ACA) creates three distinct challenges:
- Compliance with the marketplace notice requirement.
- Handling the flood of employee inquiries.
- Managing the ongoing relationships with the numerous state and federal marketplaces.
An End-to-End Marketplace Management Solution
ConSova’s Marketplace Management solution is specifically designed to ease the burden of the Marketplace component of the ACA, especially for those employers that operate offices in multiple states. Ultimately, our Marketplace Management solution creates seamless coordination between employees, exchanges, and the IRS in order to minimize administrative burdens, ensure proper notification, and protect from unnecessary penalties.
ConSova is uniquely positioned to assist clients in complying with the ACA Marketplace Notification requirement. We’ll handle all aspects of the notification process, from coordinating the content of the notice with your team to managing the distribution of the letters.
Employee Inquiry Management
With all things considered, the creation and distribution of the notices is the easy part. The Marketplace Notifications will likely create a flood of inquires employees that could easily exhaust your internal resources. Our Marketplace Management solution includes a fully branded micro-website to help employees understand their new rights under the ACA, including a comprehensive FAQ to address common concerns. Our highly trained, U.S.-based call center representatives are available to help employees navigate this foreign, seemingly complex process.
Marketplace Inquiry Management
There is still a great deal of uncertainty surrounding the future interaction between employers and each of the marketplaces. In order to remain compliant, employers must be prepared to interact with exchanges on a frequent basis, including fielding inquiries about individual employees seeking exchange coverage, complying with sampling audits, as well as fulfilling new reporting requirements.