We do have some facts that can be passed along that will interest you! The following is a recap from The National Underwriter Company, “healthcare Reform Facts” by Alson R. Martin, J.D., LL.M
Essentials of Health Reform for Employers
2012
Ø Employers to distribute summary of benefits and coverage (SBC) to participants, with a 60-day advance notice of any significant benefit change during the plan year
Ø Carriers must begin to adhere to medical loss ratios
Ø Extension of women’s preventive care services begins (starting for group plan years as of August 1,2012
Ø W-2 reporting for health coverage (Employers filing over 250 W-2)
2013
Ø For plan years on or after January 1, 2013, FSA contributions will be capped at $2,500
Ø Comparative effectiveness group health plan fees begin
Ø Employers notify employees about exchanges
Ø Exchanges begin open enrollment periods
Ø Medicare payroll tax increase on wages exceeding $200,000 for individuals and $250,000 for couples
2014
ØHealth insurance exchanges begin – auto enrollment after 2014
ØState health insurance exchange tax subsidies
ØStates expand Medicaid
ØHIPAA wellness limit
ØNo: annual dollar limits, pre-existing condition limits, waiting periods over 90 days
o Additional standards for new or “non-grandfathered” health plans (provider nondiscrimination, covering routine medical costs for clinical trial participants)
ØEmployer mandate (Pay or Play) tax penalties
o Details not out yet
More information will follow! In the meantime, if you have questions please contact Dave Dixon at EC&S 301-948-5800.