Question to Vermont Health Connect:
What is the EXACT date that employers need to make a decision if they will be offering an employer-sponsored medical insurance plan. We know that notices need to go out by October 1st but does Employers have a little more time to make a final decision going to offer a sponsored plan – as long as all staff has ample time to enroll in a plan by December 15th?
Here are some important dates to remember:
Employer Enrollment Begins:
October 1, 2013
Employees Should Select Plan By:
November 30, 2013
Employer Payment Due:
December 21, 2013
January 1, 2014
You are correct that the notices must go out by October 1. As the employer, you will have more time beyond October 1 to make your decision. Of course, you will want to allow your employees time to shop for their plan and enroll by November 30. It is crucial that they enroll in a plan by the last day of November because the invoices are generated on the first day of each month.
Davis & Hodgdon Associates has been assisting businesses and individuals in the Burlington Vermont Metro area for more than 20 years. If you have any questions or concerns please feel free to call 802.878.1963 or email [email protected].