Just add it to the list of the unpleasant consequences of Obamacare for small businesses: starting October 1, any business with at least one employee and $500,000 in annual revenue is required to notify their employee(s) by letter about the exchanges available under the Patient Protection and Affordable Care Act (PPACA), according to a report published yesterday, September 9 on Fox News.
Many small business owners were breathing a sigh of relief as the Obamacare mandate was delayed to 2015, but the notification provision still stands for any business regulated under the Fair Labor Standards Act - and it doesn't matter if the small business has one employee or 50.
Small businesses are at a particular disadvantage, as many of them do not have a formal human resources or compliance department to alert the owners to the penalties under the law. It's also unclear how the penalty will be enforced.
According to the article, the White House didn't comment on how the fine will be enforced but pointed to the U.S. Small Business Administration (SBA). The SBA has been educating small businesses about the FLSA requirement and assorted fines under Obamacare, but again, many small business owners are busy running their businesses and unable to keep up with the nuances of the law.