The deadline is basically here to provide current employees with a Health Insurance Exchange Notice. If your sales are at least $500,000/year, this applies to you no matter the # of employees or whether you currently provide health insurance or not.
I’m using a model notice from the Dept of Labor. These model notices can be accessed at:
http://www.dol.gov/ebsa/pdf/FLSAwithplans.pdf (for employers with plans) and
http://www.dol.gov/ebsa/pdf/FLSAwithoutplans.pdf (for employers without plans)
Notices are also available in Spanish at:
http://www.dol.gov/ebsa/pdf/FLSAwithplanssp.pdf (for employers with plans) and
http://www.dol.gov/ebsa/pdf/FLSAwithoutplanssp.pdf (for employers without plans)
What’s the penalty for non-compliance? No idea, I can’t find info on that. So best to keep records - I’m making my staff sign a form saying they received the info packet before taking their paycheck this week.
I had no idea about this… Thanks Brad!
I found this information which indicates it’s a penalty of $100 per day that you don’t notify your employees.
My accountant advised us to have our employee’s sign and return a form that indicates they received this letter and keep it on file.
http://www.pacificawealth.com/affordabl … employees/
We are still trying to find a good resource that can explain everything to us so that we can understand it, but unfortunately I don’t think there is anyone out there who really understands it
This is the first time I’ve heard of a sales figure as a qualifier. Could you lead me towards a source for that? All my insurance guy has been telling me was the employee number which we’re well below.
The sales figure is found under III, A: http://www.dol.gov/ebsa/newsroom/tr13-02.html
BUT then I stumbled across this: http://www.dol.gov/ebsa/faqs/faq-notice … tions.html
So, the DoL isn’t going to fine anyone? Who is going to then??? This is fun! I love thinking I’ve finally got it figured out only to be slapped back to reality…
“You’re required to do this!”
“What happens if I don’t?”
Edit: I just read that $500k paragraph closer. The language makes it sounds like it only applies to those engaged in Interstate Commerce, with the qualifier on those companies. Am I interpreting that incorrectly?
The more I try and sort through this, the more I realize just how much bad info is being shoveled out there.
Illegal Double Edit: Okay, I’m guessing it matters if the FLSA applies to the business or not. I believe that means either interstate OR $500k. The DoL site has a “test” to see if the FSLA applies to a business or not and my answer was: You probably have to comply with the Fair Labor Standards Act, since you indicated that your company/organization is a covered enterprise as defined in the FLSA. “Probably.” Hehehehe… I know the FLSA applies to me but that answer is hilarious. I’m walking away from this to get some real work done now…