The Patient Protection and Affordable Care Act (PPACA) imposes a number of new obligations on New York and New Jersey employers. One of the most significant notification requirements involves the health insurance marketplaces that will be established in 2014.
After delaying the scheduled implementation of the Notice to Inform Employees of Coverage Options requirement, the Department of Labor recently announced a new compliance date of October 1, 2013 for these new obligations from the PPACA. It also released additional guidance and a model notice.
Informing the employee of the existence of exchanges including a description of the services provided by the exchanges, and the manner in which the employee may contact exchanges to request assistance;
If the employer plan’s share of the total allowed costs of benefits provided under the plan is less than 60 percent of such costs, that the employee may be eligible for a premium tax credit under section 36B of the Internal Revenue Code (the Code) if the employee purchases a qualified health plan through an exchange; and
If the employee purchases a qualified health plan through an exchange, the employee may lose the employer contribution (if any) to any health benefits plan offered by the employer and that all or a portion of such contribution may be excludable from income for Federal income tax purposes.
The DOL’s latest guidance highlights that all employers covered under the FLSA must provide a notice of coverage options to each employee, regardless of plan enrollment status (if applicable) or of part-time or full-time status. The notice to inform employees of coverage options must include information regarding the existence of a new Marketplace (this term replaces the term “Exchange”) as well as contact information and description of the services provided by a Marketplace.
As far as the new deadlines, employers are required to provide the notice to each new employee at the time of hiring beginning October 1, 2013. With respect to employees who are current employees before October 1, 2013, employers are also required to provide the notice not later than October 1, 2013.
Non-disclosure agreements (NDAs) remain a critical tool for protecting sensitive business information. However, New York NDA requirements have evolved, and businesses must ensure these agreements are carefully drafted to remain enforceable. In a competitive market like New York City, NDAs are commonly used to protect proprietary information, client relationships, and strategic plans. At the same […]
How Courts Evaluate Testamentary Capacity and Undue Influence Will contests in New Jersey are difficult to win, given the strong presumption that a properly executed will reflects the testator’s intent. However, challenges based on lack of testamentary capacity and undue influence remain common, particularly where there are concerns about mental capacity or the involvement of […]
Bringing on outside investors can provide the capital and strategic support a business needs to grow. However, raising capital also introduces important legal, financial, and operational considerations. Before bringing on investors, businesses should address key legal issues to reduce risk, streamline investor due diligence, and position the company for long-term success. Early preparation signals that […]
How the Updated Law Shapes Retirement and Estate Planning The SECURE 2.0 Act of 2022 materially reshapes the required minimum distribution (RMD) landscape, extending tax deferral opportunities while accelerating distribution requirements for many beneficiaries. For high-net-worth individuals and families, these changes are not merely technical. They require a reassessment of retirement income strategies, beneficiary planning, […]
Buying Commercial Property in New Jersey: Legal Guide for Small Businesses
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The SEC’s Latest Guidance on Applying Federal Securities Laws to Tokenized Securities
On January 28, 2026, staff of the U.S. Securities and Exchange Commission’s Divisions of Corporation Finance, Investment Management, and Trading and Markets issued a joint statement clarifying how existing federal securities laws apply to tokenized securities. The SEC’s “Statement on Tokenized Securities” does not establish new law, but it does provide greater clarity on the […]
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