The Affordable Care Act: Summary of Employer Requirements

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "The Affordable Care Act: Summary of Employer Requirements"

Transcription

1 The Affordable Care Act: Summary of Employer Requirements July 2012

2 Discussion Outline Overview of the Affordable Care Act (ACA) Employer coverage requirements Employer reporting requirements Individual application for Exchange coverage Page 2

3 Overview of the ACA

4 Major coverage expansion provisions The ACA aims to expand coverage in 2014 through a series of provisions: Individual mandate: Mandates that all Americans maintain a minimum level of health coverage or face a tax penalty Insurance Exchanges: Creates state-based health insurance Exchanges and provides federal premium tax credits and costsharing subsidies to assist low- and moderate-income individuals without affordable employer-sponsored insurance in obtaining health coverage Medicaid expansion: Expands Medicaid up to 133% of federal poverty level Employer mandate: Mandates, for the first time, that employers with 50 or more full-time employees offer coverage or pay tax penalties Page 4

5 Overview of Supreme Court decision The US Supreme Court ruled that the law s individual mandate is a constitutional exercise of Congress s power to impose taxes, effectively upholding the ACA. In the Court s analysis of the ACA s Medicaid provisions, it held that it would be unconstitutional for the federal government to withhold all Medicaid funding in order to force states to comply with the Medicaid expansion. In states that do not expand Medicaid, employers could face greater exposure for penalties for lower-wage employees. Page 5

6 Key effective dates for employers State-based exchanges Individual mandate and tax credits Employer mandate Medicaid expansion Other insurance market reforms Health insurers fee Employer reporting to the IRS (due by 1/31/2015) Immediate health insurance market reforms Medicare Part D donut hole relief begins Reporting value of health benefits on Form W-2 (due by 1/31/2013) 40% excise tax on high-cost health plans Coverage expansions take effect Drug manufacturers fee Increase Medicare payroll tax by 0.9% on earned income Impose 3.8% tax on unearned income Eliminate deduction for retiree drug costs covered by Medicare Part D subsidy Excise tax on medical devices Fair Labor Standards Act notices States may open Exchanges to large group market Medicare Part D donut hole closed Page 6

7 Employer coverage requirements

8 What are the main coverage requirements for employers in 2014? Large employers must offer coverage to their full-time employees and their dependents Coverage must be affordable and of a minimum value for certain employees Employers subject to tax penalties if any employee receives tax credits for Exchange coverage Page 8

9 Calculation of Tax Penalties Penalty for no coverage - IRC 4980H(a) If a large employer does not offer coverage to their full-time employees and their dependents, employers face a penalty of: $2,000 x the total number of full-time employees (FTE) if at least one FTE is receiving a premium assistance tax credit Penalty for unaffordable coverage - IRC 4980H(b) If a large employer offers coverage to their full-time employees and their dependents but the coverage is unaffordable to certain employees or does not provide minimum value, employers face a penalty of: The lesser of $3,000 x the number of FTEs receiving a premium assistance tax credit or $2,000 x the total number of FTEs To determine penalty employers may subtract the first 30 workers. Page 9

10 Who is a large employer? According to Treasury Notice , any employer with 50+ full-time equivalents is considered a large employer. For each calendar month of the preceding calendar year, employers must: 1. Calculate full-time employees (including seasonal): (30+ hrs/wk/month) 2. Full-time equivalents: aggregate number of hours worked by non-full-time employees (including seasonal) Add the number of full-time employees and FTEs calculated in steps (1) and (2) for each of the 12 months in the preceding calendar year. 4. Add the monthly totals and divide by 12. If the average exceeds 50 FTEs, determine whether the seasonal employee exception applies (see below). 5. Seasonal employee exception: If an employer s workforce exceeds 50 FT employees for 120 days or fewer during a calendar year, and the employees in excess of 50 who were employed during that period of no more than 120 days (four calendar months, for this purpose only) were seasonal employees, the employer would not be an applicable large employer. 6. If the seasonal exception does not apply, the employer is an applicable large employer for the current calendar year. Measured on a controlled group basis (IRC 414) Employees of a controlled group of corporations, partnerships or proprietorships under common control, affiliated services group or others as proscribed by Treasury. Page 10

11 Definition of Full-time Employee Full-time employee: Defined as an employee who works on average 30 hours per week, per month In situations where an employee is hired for or promoted to a position that the employer classifies as or reasonably expects to be full-time, the employee will be eligible for the employer s health plan after the applicable wait period. The Department of Treasury is considering a look-back/stability period safe harbor to allow for a measuring period for employees of unknown status to determine if they should be considered full time. The look-back period may be no longer than 12 months. The length of the proposed corresponding stability period (during which employees determined to be full time would be eligible for coverage) would have to be equal to or greater than the look-back period. May not apply to new hires. Page 11

12 Which employees could be eligible for tax credits if employers offer coverage? Employers will face tax penalties if the coverage they offer is unaffordable or is not of minimum value to employees with household income between 100% and 400% of the federal poverty level and they receive a tax credit for Exchange coverage. If an employee is enrolled in an eligible employer-sponsored plan, regardless of the cost or value of the plan, such employee will be ineligible for a premium tax credit. Medicaid-eligible employees will not be eligible for tax credits. Therefore, employers will not face tax penalties for those employees. States can expand Medicaid eligibility to 133% of federal poverty level (+5% income disregard=138% of FPL). Page 12

13 Affordability General rule: Employee s share of the self-only premium for the employer s lowest-cost plan that provides minimum value cannot exceed 9.5% of household income or the employee may be eligible for a premium tax credit to purchase Exchange coverage Treasury-proposed safe harbor: No employer penalty if the employee s share of the self-only premium for the employer s lowestcost, minimum value plan does not exceed 9.5% of the employee s current W-2 wages from the employer Clarifies that an employer must offer coverage to employees and dependents, but that the affordability test is based on employee contribution to self-only coverage. Employers unable to utilize the safe harbor will still be able to utilize the general rule, which is based on 9.5% of household income. Page 13

14 Estimates for Affordability Safe Harbor Estimates for Individual Eligibility for Medicaid or Tax Credits and Affordability Safe Harbor 1 Scenario Percent of federal poverty level Annual income Hourly wage 4 Affordability test safe harbor (9.5% of current wages) In states that expand Medicaid under the ACA to 133% of Federal Poverty level: Minimum wage worker 2 eligible ~101% $11,310 $7.25 Medicaid eligible n/a for Medicaid Statutory upper limit for 133% $14,856 $9.52 $1,411 $118 Medicaid eligibility Effective upper limit for 138% $15,415 $9.88 $1,464 $122 Medicaid eligibility 3 Upper limit for eligibility for tax 400% $44,680 $28.64 $4,245 $354 credits In states that do not expand Medicaid under the ACA: Minimum wage worker eligible for Exchange credits if employer coverage is not offered/affordable ~101% $11,310 $7.25 $1,074 $90 Estimated employee premium share for selfonly coverage for affordability test safe harbor 5 Upper limit for eligibility for tax 400% $44,680 $28.64 $4,245 $354 credits 1. The chart has been updated to reflect 2012 HHS Federal Poverty Guidelines for one person ($11,170). 2. Federal minimum wage ($7.25 per hour). Note: As of January 1, 2012, minimum wage rates are higher than the federal minimum wage in the District of Columbia and 18 states (Alaska, Arizona, California, Colorado, Connecticut, Florida, Illinois, Massachusetts, Maine, Michigan, Montana, Nevada, New Mexico, Ohio, Oregon, Rhode Island, Vermont and Washington). 3. PPACA 2002 (as added by HCERA 1004(e)(2)) requires states to apply an income disregard of five percent of the federal poverty level in meeting the income test, resulting in an effective income threshold of 138% of FPL for Medicaid eligibility. 4. Based on the PPACA threshold for classification as a full-time employee (average 30 hours per week) multiplied by 52 weeks % of current wages divided by 12 months Page 14

15 Minimum value Minimum value: A plan fails to provide minimum value if the plan s share of the total allowed costs of benefits provided under the plan is less than 60 percent of such costs. Generally understood to be a 60% actuarial value test (percentage of medical expenses -- deductibles, co-insurance, co-payments, etc. -- paid for by the plan for a standard population and set of allowed charges). Essential Health Benefits do not apply to large employer plans. The Secretary is authorized to issue regulations further defining the minimum value standard. The Departments of Treasury and Health and Human Services issued a request for comments on several approaches to determining whether an employer plan provides minimum value. Page 15

16 Minimum value Treasury-HHS proposal for establishing a standard population measure: Minimum value for large employer plans will be measured against a standard population. The data used to develop this standard population will be a large set of commercial claims data purchased by HHS that reflects typical self-insured employer plans. Employers are not required to provide any specific category of benefits, but minimum value will be determined in comparison to a standard population and claims data set that is driven by the provision of four core categories of benefits: Hospital/ER services Physician/mid-level practitioner care Pharmacy benefits Lab/imaging services Page 16

17 Treasury-HHS proposed methods for determining minimum value Treasury and HHS have proposed three distinct options for determining MV on a pass/fail basis. All three options are linked by the standard population/claims data set. Minimum Value (MV) Calculator: Allows an employer to input in-network cost-sharing features (i.e., deductibles, co-payments, coinsurance, out-of-pocket limits) of their health plan for different categories of benefits into an online calculator. Employers would not be able to use the MV calculator if they have non-standard features, such as atypical quantitative or cost-sharing limits on the four core benefit categories. Safe-Harbor Checklist: Allows an employer to perform an eyeball test and see if their plan design features meet one of several design-based safe harbors, such as a high-deductible health plan with an employer-provided HSA. In order to utilize this option, an employer would be required to cover all four core categories of benefits and services and could not have nonstandard features. Each safe harbor checklist would describe the cost-sharing attributes of a plan that apply to the four core categories. Actuarial Certification: Allows an employer to use a certified actuary to determine whether a plan meets minimum value. Plans with nonstandard features, such as atypical quantitative limits on the four core benefits, will need to use this method for determining MV. Page 17

18 Minimum Value Proposed Treatment of HSA and HRA employer contributions: The Administration has proposed to credit only an appropriate portion of the amounts contributed by an employer to an HSA or made available to an employee under an HRA in the calculation of minimum value. This appropriate amount would be adjusted so that the employer only receives the same credit for HSA or HRA contributions as it would receive for the same amount of first dollar coverage. Page 18

19 Other employer coverage requirements Wait periods: Prohibits plans from including wait periods longer than 90 days before enrolling eligible employees into employer coverage. Auto-enrollment: Employers with at least 200 employees must auto-enroll full-time employees into coverage if no election is made. Implementation delayed until regulations are issued. Essential Health Benefits: Essential health benefits apply to products sold in the individual and small group markets, both inside and outside state insurance Exchanges. Although large group plans are not required to offer the essential health benefits package, large group plans are prohibited from imposing lifetime or annual limits on any essential health benefits that they do offer. The ACA describes EHBs as consisting of 10 benefit classes: Ambulatory patient services Emergency services Hospitalization Maternity and newborn care Mental health and substance use disorder services, including behavioral health treatment Prescription drugs Rehabilitative and habilitative services and devices Laboratory services Preventive services and wellness services and chronic disease management Pediatric services including oral and vision care Page 19

20 Part-time employees Large employers are not required to offer coverage to part-time employees (those who work less than 30 hours per week per month). For large employers who offer coverage to part-time employees: The Administration intends to issue guidance with respect to the application of the 90-day waiting period and other eligibility conditions for part-time employees. Certain insurance market reforms apply, such as preventive care without cost sharing, and no annual and lifetime limits on EHBs. Page 20

21 Links to guidance Definition of full-time employee Affordability Minimum value Page 21

22 Employer reporting requirements

23 Key dates Employers begin reporting the value of employersponsored health insurance on employees form W2 Notice to current employees under FLSA 18B; to all new hires after this date ( In accordance with regulations ) Open enrollment in Exchanges begins Major coverage expansion takes effect Mandatory reporting for large employers under IRC 6056 Mandatory reporting for health insurance issuers, government agencies, employers that sponsor self-insured plans, and other persons that provide minimum essential coverage to an individual under IRC /31/2013 3/1/ /1/2013 1/1/2014 1/31/2015 Applications for Exchange credits, subsidies Page 23

24 What new reporting requirements do companies face under the ACA? Provision: Applies to: Employer reporting on value of health coverage Employers who issue at least 250 W2 forms annually Employer requirement to inform employees of coverage options Employers subject to the Fair Labor Standards Act Reporting of enrollment in health insurance coverage Self-insured employers, insurers Submit to: IRS Employees IRS IRS Reporting of employer offer of minimum essential coverage Large employers Effective: 1/31/2013 3/1/2013 1/31/2015 1/31/2015 Page 24

25 Summary of annual employer reporting requirements to Treasury/IRS Provision 9002 (amends IRC 6051) 1502 (IRC 6055) 1514 (IRC 6056) Applies to: Due by: Data elements: Employers who issue at least 250 W2 forms annually 1/31/2013 (first due date, 1/31 each year thereafter) The aggregate cost of applicable employersponsored coverage, except that this paragraph shall not apply to For employer-sponsored coverage: o Contributions to Archer MSAs or health savings accounts; or o Contributions to a flexible spending arrangement. Health insurance issuers, government agencies, employers that sponsor self-insured plans, and other persons that provide minimum essential coverage to an individual Large employers who are subject to /31/2015 (first due date, 1/31 each year thereafter) 1/31/2015 (first due date, 1/31 each year thereafter) Name, address, tax ID number of insured and all others covered under the policy Dates of coverage during the calendar year Whether coverage is a qualified health plan (QHP) offered through an Exchange For QHPs offered through an Exchange, the amount of cost-sharing subsidies or premium assistance tax credits received For employer-sponsored coverage: o Name, address and employer ID number of the employer maintaining the plan o The portion of the premium paid by the employer o If the coverage is a QHP in the small group market offered through an Exchange Statements to individuals: o Name and address of the person required to submit the return, including phone number of the information contact o Information included in return with respect to the individual Notification of non-enrollment: Not later than June 30 of each year, the Secretary of the Treasury, acting through the IRS and in consultation with the Secretary of HHS, shall send a notification to each individual who files an individual income tax return and who is not enrolled in minimum essential coverage. Such notification shall contain information on the services available through the Exchange operating in the State in which such individual resides. Name, date and employer ID number of the employer Certification as to whether the employer offers fulltime employees and their dependents the opportunity to enroll in minimum essential coverage offered under an eligible employersponsored plan o Length of any waiting period o Months during the year for which coverage was available o Monthly premium for the lowest-cost option under the plan o Applicable large employer s share of total allowed cost of benefits under the plan The number of full-time employees for each month during the calendar year The name, address, and TIN of each full-time employee during the calendar year and the months (if any) during which such employee (and any dependents) were covered under any such health benefits plans, and Such other information as the Secretary may require Statements to individuals: o Name and address of the person required to submit the return, including phone number of the information contact o Information included in return with respect to the individual Page 25

26 January 31, 2013 W2 employer reporting on value of health coverage Employers who issue at least 250 forms W2 in a year must report the cost of certain group health coverage on employees forms W2 issued after January 1, Employers must begin collecting information in Reporting is for informational purposes only and does not affect the tax treatment of employer-sponsored health coverage. Page 26

27 January 31, 2013 W2 employer reporting on value of health coverage (cont d.) Include in reporting: Major medical Health Flexible Spending Arrangement for the plan year in excess of employee s cafeteria plan salary reduction for all qualified benefits Hospital indemnity or specified illness (insured or self-funded), paid through salary reduction (pre-tax) or by employer Domestic partner coverage included in gross income Include in reporting if employer charges a COBRA premium: Employee Assistance Plan (EAP) providing applicable employer-sponsored health coverage On-site medical clinics providing applicable employer-sponsored health coverage Wellness programs providing applicable employer-sponsored health coverage Page 27

28 January 31, 2013 W2 employer reporting on value of health coverage (cont d.) Excluded from reporting: Health flexible spending arrangement (FSA) funded solely by salaryreduction amounts Health savings arrangement (HSA) contributions (employer or employee) Archer medical savings account (MSA) contributions (employer or employee) Hospital indemnity or specified illness (insured or self-funded) paid on an after-tax basis Federally recognized Indian tribal government plans and plans of tribally chartered corporations wholly owned by a federally recognized Indian government Governmental plans providing coverage primarily for members of the military and their families Accident or disability income Long-term care Liability insurance Supplemental liability insurance Workers compensation Automobile medical insurance Credit-only insurance Excess reimbursement to highly compensated individual (included in gross income) Payment/reimbursement of health insurance premiums for 2% shareholder-employee (included in gross income) Page 28

29 January 31, 2015 Reporting of employer offer of minimum essential coverage (IRC 6056) Large employers subject to IRC 4980 would report to the IRS: Length of any waiting period Months during the year for which coverage was available Monthly premium for the lowest-cost option under the plan Applicable large employer s share of total allowed cost of benefits under the plan The name, address, and TIN of each full-time employee during the calendar year and the months (if any) during which such employee (and any dependents) were covered under any such health benefits plans Such other information as the Secretary may require. In addition, employers would provide statements to individuals, including The name and address of the person required to submit the return, including phone number of the information contact; and Information included in return with respect to the individual. Report due by January 31 each year thereafter. Page 29

30 January 31, 2015 Reporting of enrollment in health insurance coverage (IRC 6055) Under IRC 6055, health insurance issuers, employers that sponsor self-insured plans, government agencies, and other persons that provide minimum essential coverage to an individual will report to the IRS: Name, address, tax ID number of insured and all others covered under the policy Dates of coverage during the calendar year Whether coverage is a qualified health plan (QHP) offered through an Exchange For QHPs offered through an Exchange, the amount of cost-sharing subsidies or premium assistance tax credits received For employer-sponsored coverage: Name, address and employer ID number of the employer maintaining the plan The portion of the premium paid by the employer If the coverage is a QHP in the small group market offered through an Exchange (SHOP Exchange) Page 30

31 January 31, 2015 Reporting of enrollment in health insurance coverage (IRC 6055, cont d.) Under IRC 6055, health insurance issuers, employers that sponsor self-insured plans, government agencies, and other persons that provide minimum essential coverage to an individual also will provides statements to individuals, including: The name and address of the person required to submit the return, including phone number of the information contact Information included in return with respect to the individual Report due by January 31 each year thereafter. IRC 6055 also requires the Treasury Secretary acting through the IRS and in consultation with the Secretary of HHS to send a notification to each individual who files an individual income tax return and who is not enrolled in minimum essential coverage. Such notification shall contain information on the services available through the Exchange operating in the State in which such individual resides. The notice must be sent no later than June 30 of each year. Page 31

32 Reporting and Tax Penalties The IRS in April 2012 issued requests for comments on how to facilitate compliance with IRC 6055 and No guidance has been issued on the assessment of tax penalties. Page 32

33 Individual application for Exchange coverage

34 March 1, 2013 Employer requirement to inform employees of coverage options (FLSA) In accordance with regulations to be issued by the Department of Labor, employers who are subject to the Fair Labor Standards Act must provide a written notice to employees: Written notice informing employees: of the existence of an Exchange, including a description of the services provided by such Exchange, and the manner in which the employee may contact the Exchange to request assistance; if the employer plan's share of the total allowed costs of benefits provided under the plan is less than 60% of such costs, that the employee may be eligible for a premium tax credit and a subsidy if the employee purchases a qualified health plan through the Exchange; and if the employee purchases a qualified health plan through the 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 statute states that employers will be required to provide this notice to current employees on March 1, 2013, and to new employees on the date of hire thereafter. Page 34

35 Beginning October 1, 2013: Individual application for Exchange credits, subsidies For individuals who seek credits or subsidies for Exchange coverage because they assert that employer-sponsored coverage is unaffordable or is not of minimum value, the employee must provide to the Exchange: The name, address, and date of birth for each individual who is to be covered by the plan The individual s Social Security number (if applicable) and any identifying information with respect to the individual s immigration status (to be determined by the Treasury Secretary in conjunction with the Secretary of Homeland Security) The name, address, and employer identification number (if available) of the employer Whether the enrollee or individual is a full-time employee and whether the employer provides such minimum essential coverage If the employer provides such minimum essential coverage, the lowest cost option for the enrollee's or individual's enrollment status and the enrollee's or individual's required contribution under the employer-sponsored plan. Page 35

36 Beginning October 1, 2013: Individual application for Exchange credits, subsidies If an enrollee claims an employer's minimum essential coverage is unaffordable, the employee also must provide: Their taxpayer identification number Their tax filing status The number of individuals for whom a deduction is allowed under IRC 151, including the taxpayer and the taxpayer s spouse The modified gross income of the taxpayer and of all individuals for whom a deduction is allowed under IRC 151 who are required to file a tax return Other information prescribed the Secretary in regulation to determine whether the taxpayer is eligible for a credit or subsidy The taxable year to which the above information relates, or (if applicable) the fact that such information is not available. Page 36

37 Beginning October 1, 2013: Individual application for Exchange credits, subsidies (cont d.) Per HHS March 27, 2012, Final Rule on Establishment of Exchanges and Qualified Health Plans; Exchange Standards for Employers (CMS 9989 F), the inaugural open enrollment in Exchanges runs from October 1, 2013, through March 31, In subsequent years, open enrollment will run from October 15 through December 7. Exchanges also must provide special enrollment periods to facilitate enrollment for special circumstances including: Qualified individuals who lose minimum essential coverage Qualified individuals gain dependents or become dependents through marriage, birth, adoption, or placement for adoption Individuals who were not previously a citizen, national, or lawfully present individual gains such status Individuals are determined newly eligible or newly ineligible for advance payments of the premium tax credit or has a change in eligibility for cost sharing reductions, regardless of whether such individual is already enrolled in a qualified health plan Page 37

38 Contact Anne Phelps Page 38

Health Care Law Implementation: What Nonprofits Need to Know WELCOME!

Health Care Law Implementation: What Nonprofits Need to Know WELCOME! Health Care Law Implementation: What Nonprofits Need to Know WELCOME! Health Care Law Implementation: What Nonprofits Need to Know (PPACA) Health Care Law Implementation: What Nonprofits Need to Know Heather

More information

The Affordable Care Act: Summary of Employer Requirements

The Affordable Care Act: Summary of Employer Requirements The Affordable Care Act: Summary of Employer Requirements February 2013 Disclaimer Any US tax advice contained herein was not intended or written to be used, and cannot be used, for the purpose of avoiding

More information

Employer Tax Penalties Linked to Employees Receiving Tax Credits. Calculation of Non-deductible Excise Taxes Under IRC 4380H

Employer Tax Penalties Linked to Employees Receiving Tax Credits. Calculation of Non-deductible Excise Taxes Under IRC 4380H Washington Council Employer Tax Penalties Linked to Employees Receiving Tax Credits Employers will face taxes under IRC 4980H if they do not offer minimum essential coverage or if the coverage they offer

More information

Health Care Reform: W2 Reporting Requirement

Health Care Reform: W2 Reporting Requirement Health Care Reform: W2 Reporting Requirement The Affordable Care Act requires employers to report the cost of coverage under an employersponsored group health plan. Reporting the cost of health care coverage

More information

Health Care Reform Guide for Staffing Firms

Health Care Reform Guide for Staffing Firms Oct. 5, 2012 By Edward A. Lenz, Esq. Senior Vice President, Legal and Public Affairs American Staffing Association 703-253-2035 elenz@americanstaffing.net Alden J. Bianchi, Esq. Chairman, Compensation

More information

Explaining Health Care Reform

Explaining Health Care Reform For Concordia Plan Services Employers Summary of Benefits & Coverage (SBCs).. 2 The Marketplace. 4 Premium Tax Credits (or Subsidies).. 6 The Employer Play-or-Pay Mandate.. 8 Patient-Centered Outcomes

More information

HEALTH CARE REFORM CHECKLIST

HEALTH CARE REFORM CHECKLIST HEALTH CARE REFORM CHECKLIST As a small employer, you need to be aware of the new regulations tied to the Affordable Care Act. Refer to this checklist to ensure you understand each one and that you re

More information

Health care reform for large businesses

Health care reform for large businesses FOR PRODUCERS AND EMPLOYERS Health care reform for large businesses A guide to what you need to know now DECEMBER 2013 CONTENTS 2 Introduction Since 2010 when the Affordable Care Act (ACA) was signed into

More information

Weyrich, Cronin & Sorra, Chartered

Weyrich, Cronin & Sorra, Chartered Weyrich, Cronin & Sorra, Chartered Health Insurance Reporting Requirements Date: 9/17/2014 The Affordable Care Act (ACA) brought many changes into the law, taking effect over a period of years. Among these

More information

Prescribed Side Effects of the Patient Protection and Affordable Care Act (PPACA): Healthcare Reform Update

Prescribed Side Effects of the Patient Protection and Affordable Care Act (PPACA): Healthcare Reform Update August 14, 2013 Presented by: Jay Hutto, CPA Prescribed Side Effects of the Patient Protection and Affordable Care Act (PPACA): Healthcare Reform Update Click HERE to listen to webinar. August 14, 2013

More information

Health Care Reform Provision Plans/Insurers Impacted Effective Date What Employers Should be Doing Now

Health Care Reform Provision Plans/Insurers Impacted Effective Date What Employers Should be Doing Now Health Care Reform 2013 & 2014 Planning Employers should review the fast-approaching 2013 and 2014 health care reform requirements. State Exchanges will be opening enrollment as soon as October 1, 2013

More information

Introduction. Affordable Care Act Overview of Changes

Introduction. Affordable Care Act Overview of Changes Introduction Affordable Care Act Overview of Changes Presented by: Tim Dillingham, CLU Benefit Resource Group, Inc. 201 E Broad Street, Suite 1 Linden, MI 48451 810-735-6500 810-735-6610 (fax) tim@benefitresourcegroup.net

More information

Patient Protection and Affordable Care Act Compliance Checklist for Employers

Patient Protection and Affordable Care Act Compliance Checklist for Employers October, 2014 Patient Protection and Affordable Care Act Compliance Checklist for Employers Under the Employer Mandate in the Affordable Care Act, effective January 1, 2015, employers with 50 or more full-time

More information

Federal Health Reform FAQs

Federal Health Reform FAQs Federal Health Reform FAQs Individuals 1. What is an exchange? An exchange, as created under the Affordable Care Act (ACA), is a place where consumers can purchase subsidized health insurance coverage.

More information

The Patient Protection and Affordable Care Act What Employers need to know

The Patient Protection and Affordable Care Act What Employers need to know The Patient Protection and Affordable Care Act What Employers need to know Presented by: Misty Baker mbake@iiat.org 800-880-7428 This update is based on the known provisions of the PPACA. This is not to

More information

Affordable Care Act (ACA) Frequently Asked Questions

Affordable Care Act (ACA) Frequently Asked Questions Grandfathered policies Q1: What is grandfathered health plan coverage? A: The interim final rule on grandfathering under ACA generally defines grandfathered health plan coverage as coverage provided by

More information

Health Care Reform Update

Health Care Reform Update Small Businesses No Financial Requirements for Small Businesses: The ACA imposes no financial requirements for small businesses to contribute to their employees health insurance. However, beginning in

More information

The Impact on Business

The Impact on Business The Impact on Business Affordable Care Act Reform addresses access to coverage not healthcare cost or population health ACA passed in 2010. The Supreme Court upheld ACA in 2012 and President Obama was

More information

AFFORDABLE CARE ACT LARGE EMPLOYER HEALTH REFORM CHECKLIST. Edition: November 2014

AFFORDABLE CARE ACT LARGE EMPLOYER HEALTH REFORM CHECKLIST. Edition: November 2014 AFFORDABLE CARE ACT Employers that offer health care coverage to employees are responsible for complying with many of the provisions of the Affordable Care Act (ACA). Most health reform changes apply regardless

More information

Health Care Reform: Ready or Not, Here it Comes! Presented by:

Health Care Reform: Ready or Not, Here it Comes! Presented by: Broader Perspective. Business Solutions. Health Care Reform: Ready or Not, Here it Comes! Presented by: Ryan Fridborg, MAOD, SPHR Executive Vice President, Employee Benefits rfridborg@boltonco.com Marilyn

More information

Health Care Reform Frequently Asked Questions

Health Care Reform Frequently Asked Questions Health Care Reform Frequently Asked Questions On March 23, 2010, President Obama signed federal health care reform into law, also known as the Patient Protection and Affordability Act. A second, or reconciliation

More information

What s News in Tax Analysis That Matters from Washington National Tax

What s News in Tax Analysis That Matters from Washington National Tax What s News in Tax Analysis That Matters from Washington National Tax The Impact of the Affordable Care Act on International Assignees and Their Health Care Plans Employers and individuals in the United

More information

The purposes of ACA reporting

The purposes of ACA reporting Agenda > The purposes of ACA reporting > Affordability and minimum value > Determining applicable large employer status > Determining full-time and full-time equivalent employees > ACA reporting scenarios

More information

HHealth HEALTH INSURANCE EXCHANGE FAQs

HHealth HEALTH INSURANCE EXCHANGE FAQs HHealth HEALTH INSURANCE EXCHANGE FAQs Page 1 TABLE OF CONTENTS Introduction... 3 Background... 3 Health Insurance Exchange FAQs... 4 What is the Patient Protection and Affordable Care Act (PPACA)?...

More information

Affordable Care Act (ACA) Health Insurance Exchanges and Medicaid Expansion

Affordable Care Act (ACA) Health Insurance Exchanges and Medicaid Expansion Affordable Care Act (ACA) Health Insurance Exchanges and Medicaid Expansion Table of Contents Expanded Coverage... 2 Health Insurance Exchanges... 3 Medicaid Expansion... 8 Novartis Pharmaceuticals Corporation

More information

Health care reform at-a-glance. August 2014

Health care reform at-a-glance. August 2014 Health care reform at-a-glance August 2014 Employer mandate Shared responsibility payment for failing to offer coverage to at least 95%* of all fulltime employees (FTE) and children if any FTE gets subsidy

More information

SURVIVAL GUIDE FOR SMALL BUSINESS

SURVIVAL GUIDE FOR SMALL BUSINESS HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS Vermont edition NAVIGATING NEXT STEPS IN HEALTH CARE REFORM There s a constant stream of changes and updates related to health care reform,

More information

The Next Steps for Strategic Planning in Light of the ACA

The Next Steps for Strategic Planning in Light of the ACA The Next Steps for Strategic Planning in Light of the ACA This is only a brief summary that reflects our current understanding of select provisions of the law, often in the absence of regulations. All

More information

Compliance Alert. ACA s Affordability Contribution Percentages Increased for 2017

Compliance Alert. ACA s Affordability Contribution Percentages Increased for 2017 Compliance Alert ACA s Affordability Contribution Percentages Increased for 2017 May 26, 2016 Quick Facts: Several Affordable Care Act (ACA) provisions measure the affordability of employersponsored health

More information

Section 2: INDIVIDUALS WHO CURRENTLY HAVE

Section 2: INDIVIDUALS WHO CURRENTLY HAVE Section 2: INDIVIDUALS WHO CURRENTLY HAVE COVERAGE OR AN OFFER OF COVERAGE FROM THEIR EMPLOYER Section 2 covers enrollment issues for individuals who have coverage or an offer of coverage whether through

More information

Form W-2 Reporting Requirements

Form W-2 Reporting Requirements Brought to you by Seubert & Associates Form W-2 Reporting Requirements The Affordable Care Act (ACA) requires employers to report the aggregate cost of employer-sponsored group health plan coverage on

More information

AFFORDABLE CARE ACT LARGE EMPLOYER HEALTH REFORM CHECKLIST. Edition: October 2015

AFFORDABLE CARE ACT LARGE EMPLOYER HEALTH REFORM CHECKLIST. Edition: October 2015 AFFORDABLE CARE ACT Employers that offer health care coverage to employees are responsible for complying with many of the provisions of the Affordable Care Act (ACA). Most health reform changes apply regardless

More information

Health Care Reform Implications for Employers with Seasonal Employees

Health Care Reform Implications for Employers with Seasonal Employees Health Care Reform Implications for Employers with Seasonal Employees Many industries (e.g. ski resorts, retail, restaurants, agriculture, fishing and tourism) have a significant number of seasonal employees.

More information

Health insurance Marketplace. What to expect in 2014

Health insurance Marketplace. What to expect in 2014 Health insurance Marketplace What to expect in 2014 Overview The Affordable Care Act (ACA) includes several provisions geared to extend greater access to health insurance benefits to more people. Beginning

More information

Summary of Provisions Affecting Employer-Sponsored Insurance

Summary of Provisions Affecting Employer-Sponsored Insurance JULY 2014 AFFORDABLE CARE ACT Summary of Provisions Affecting Employer-Sponsored Insurance Much of the public discussion about the Affordable Care Act (ACA) has focused on the expansion of coverage to

More information

Treasury, IRS Release Final Rules on Employer Information Reporting Requirements Under Health Care Law

Treasury, IRS Release Final Rules on Employer Information Reporting Requirements Under Health Care Law March 6, 2014 Treasury, IRS Release Final Rules on Employer Information Reporting Requirements Under Health Care Law The Department of the Treasury and the IRS late yesterday (March 6, 2014) released long

More information

Affordable Care Act Provisions Affecting Employers 2013 and Beyond. Medicare Tax on Investment Income

Affordable Care Act Provisions Affecting Employers 2013 and Beyond. Medicare Tax on Investment Income Affordable Care Act Provisions Affecting Employers 2013 and Beyond 2013 Medicare Tax on Wage Income A 0.9 percent surtax on wage income above $200,000 for individuals and $250,000 for couples. The employee

More information

Health care reform at-a-glance. December 2013

Health care reform at-a-glance. December 2013 December 2013 Employer mandate Play or pay penalty for failing to offer coverage to at least 95% of all full-time employees (FTE) and children if any FTE gets subsidy in exchange $2,000 (indexed) times

More information

InSight. A Littler Mendelson Report. Health Care Reform: Are You Prepared? A Timeline for Employers to Follow

InSight. A Littler Mendelson Report. Health Care Reform: Are You Prepared? A Timeline for Employers to Follow A Littler Mendelson Report InSight An Analysis of Recent Developments & Trends In This Issue: April 2010 The Patient Protection and Affordable Care Act was signed into law on March 23, 2010. Amendments

More information

Form W-2 Health Coverage Reporting Requirements - Updated August 2015

Form W-2 Health Coverage Reporting Requirements - Updated August 2015 Form W-2 Health Coverage Reporting Requirements - Updated August 2015 The Affordable Care Act (ACA) requires employers to report the aggregate cost of employer-sponsored group health plan coverage on their

More information

IRS Issues Guidance on Mandatory Form W-2 Informational Reporting of Employer-Sponsored Health Coverage

IRS Issues Guidance on Mandatory Form W-2 Informational Reporting of Employer-Sponsored Health Coverage IRS Issues Guidance on Mandatory Form W-2 Informational Reporting of Employer-Sponsored Health Coverage By Seth Perretta, Joel Wood and Matthew Fornataro of Crowell & Moring LLP On March 29, 2011, the

More information

Timeline of New Health Care Law and Its Impact on American Businesses

Timeline of New Health Care Law and Its Impact on American Businesses Timeline of New Health Care Law and Its Impact on American Businesses Summaries of the Patient Protection and Affordable Health Care Act (Public Law 111-148) Health Care and Education Reconciliation Act

More information

Key Provisions of 2010 Healthcare Reform Legislation for Small (under 50) Employers. By Alice Eastman Helle. October 2013 Update

Key Provisions of 2010 Healthcare Reform Legislation for Small (under 50) Employers. By Alice Eastman Helle. October 2013 Update Key Provisions of 2010 Healthcare Reform Legislation for Small (under 50) Employers By Alice Eastman Helle October 2013 Update The sweeping healthcare reform legislation enacted in 2010 is exceedingly

More information

HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS. Vermont Edition

HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS. Vermont Edition HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS Vermont Edition NAVIGATING NEXT STEPS IN HEALTH CARE REFORM There s a constant stream of changes and updates related to health care reform,

More information

Nebraska Health Insurance Exchange Update

Nebraska Health Insurance Exchange Update Nebraska Health Insurance Exchange Update Overview of the Affordable Care Act and the Federally Facilitated marketplace. September 2014 AFFORDABLE CARE ACT» The Affordable Care Act: Establishes a Health

More information

W-2 Reporting Requirement

W-2 Reporting Requirement Revised January 2012 Notice 2012-9 provides guidance on W-2 reporting requirement IRS Issues New Guidance on Health Care Reform s The Internal Revenue Service (IRS) recently issued IRS Notice 2012-9, which

More information

Patient Protection and Affordable Care Act (H.R. 3590)

Patient Protection and Affordable Care Act (H.R. 3590) on Health Reform Passing comprehensive health care reform has been a priority of the President and Congress. The U.S. House of Representatives passed the Affordable Health Care for America Act on November

More information

Effective dates for provisions of the PPACA are spread out from 2010 through 2018. This document focuses on 2013 and 2014.

Effective dates for provisions of the PPACA are spread out from 2010 through 2018. This document focuses on 2013 and 2014. As part of our ongoing initiative to provide added value to our customers, this health care reform summary is being provided on an information only basis. This is NOT a legal document and is not intended

More information

HEALTH INSURANCE EXCHANGE FAQS

HEALTH INSURANCE EXCHANGE FAQS HEALTH INSURANCE EXCHANGE FAQS 0 TABLE OF CONTENTS INTRODUCTION... 1 BACKGROUND... 1 HEALTH INSURANCE EXCHANGE FAQS... 1 1 INTRODUCTION IN EARLY 2010, CONGRESS PASSED THE PATIENT PROTECTION AND AFFORDABLE

More information

HEALTH REFORM AND MULTIEMPLOYER PLAN COVERAGE 2014 AND BEYOND

HEALTH REFORM AND MULTIEMPLOYER PLAN COVERAGE 2014 AND BEYOND WWW.BKLAWYERS.COM HEALTH REFORM AND MULTIEMPLOYER PLAN COVERAGE 2014 AND BEYOND ABA SECTION OF LABOR AND EMPLOYMENT LAW EMPLOYEE BENEFITS COMMITTEE MID- WINTER MEETING 201 BLITMAN & KING LLP Franklin Center,

More information

AFFORDABLE CARE ACT SMALL EMPLOYER HEALTH REFORM CHECKLIST

AFFORDABLE CARE ACT SMALL EMPLOYER HEALTH REFORM CHECKLIST AFFORDABLE CARE ACT SMALL EMPLOYER Employers that offer health care coverage to employees are responsible for complying with many of the provisions of the Affordable Care Act (ACA). Most health reform

More information

Health Care Reform: Health Plans Overview. Presented by: Brian Lenzo, Preferred Benefits Services

Health Care Reform: Health Plans Overview. Presented by: Brian Lenzo, Preferred Benefits Services Health Care Reform: Health Plans Overview Presented by: Brian Lenzo, Preferred Benefits Services Agenda What is the legal status of the law? Which plans must comply? Grandfathered plans Reforms currently

More information

HEALTH CARE REFORM: FREQUENTLY ASKED QUESTIONS (Group, Individual, Seasonal)

HEALTH CARE REFORM: FREQUENTLY ASKED QUESTIONS (Group, Individual, Seasonal) Group Health Insurance Q & A HEALTH CARE REFORM: FREQUENTLY ASKED QUESTIONS (Group, Individual, Seasonal) 1. Will small employers continue to have 12 month rates as they exist today? a. Yes. Employer groups

More information

HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS. New York Edition

HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS. New York Edition HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS New York Edition NAVIGATING NEXT STEPS IN HEALTH CARE REFORM PAGE 2 www.discovermvp.com There s a constant stream of changes and updates related

More information

HEALTH BENEFIT EXCHANGE SURVIVAL GUIDE FOR SMALL BUSINESS. New York Edition

HEALTH BENEFIT EXCHANGE SURVIVAL GUIDE FOR SMALL BUSINESS. New York Edition HEALTH BENEFIT EXCHANGE SURVIVAL GUIDE FOR SMALL BUSINESS New York Edition NAVIGATING NEXT STEPS IN HEALTH CARE REFORM PAGE 2 www.discovermvp.com There s a constant stream of changes and updates related

More information

The Effect of the Affordable Care Act on Your Small Business. Presented to : Greater Kansas City Chamber Business Class

The Effect of the Affordable Care Act on Your Small Business. Presented to : Greater Kansas City Chamber Business Class The Effect of the Affordable Care Act on Your Small Business Presented to : Greater Kansas City Chamber Business Class November 6, 2013 KHN Kaiser Health News Current Headlines October 31- November 4,

More information

Navigating the New Health Insurance Environment THE AFFORDABLE CARE ACT AND PROFESSIONAL EMPLOYER ORGANIZATIONS (PEOS)

Navigating the New Health Insurance Environment THE AFFORDABLE CARE ACT AND PROFESSIONAL EMPLOYER ORGANIZATIONS (PEOS) Navigating the New Health Insurance Environment THE AFFORDABLE CARE ACT AND PROFESSIONAL EMPLOYER ORGANIZATIONS (PEOS) EXECUTIVE SUMMARY The recent health care overhaul affects how businesses administer

More information

SURVIVAL GUIDE FOR SMALL BUSINESS

SURVIVAL GUIDE FOR SMALL BUSINESS HEALTH INSURANCE MARKETPLACE SURVIVAL GUIDE FOR SMALL BUSINESS New York edition NAVIGATING NEXT STEPS IN HEALTH CARE REFORM PAGE 2 www.discovermvp.com There s a constant stream of changes and updates related

More information

The Affordable Care Act:

The Affordable Care Act: The Affordable Care Act: An Update on the Employer Mandate William A. Dombi, Esq. MARCH ON WASHINGTON Conference & Exposition March 24, 2014 Health Care Reform Framework Health insurance reforms Expanded

More information

AFFORDABLE CARE ACT SMALL EMPLOYER HEALTH REFORM CHECKLIST HR COMPLIANCE CENTER

AFFORDABLE CARE ACT SMALL EMPLOYER HEALTH REFORM CHECKLIST HR COMPLIANCE CENTER AFFORDABLE CARE ACT Employers that provide health coverage to employees are responsible for complying with many of the provisions of the Affordable Care Act (ACA). Provisions take effect on staggered dates

More information

Answers about. Health Care REFORM. for your business

Answers about. Health Care REFORM. for your business Answers about Health Care REFORM for your business Since the time of its enactment in 2010, the health care reform law has remained controversial at least in part due to a constitutional challenge to the

More information

Find health care options that meet your needs and fit your budget.

Find health care options that meet your needs and fit your budget. Health Insurance Marketplace 101 Find health care options that meet your needs and fit your budget. October 2015 Objectives This session will help you Explain the Health Insurance Marketplace Define who

More information

THE AFFORDABLE CARE ACT ( ACT ), NEW EMPLOYER MANDATES, AND IMPACTS ON EMPLOYER- SPONSORED HEALTH INSURANCE PLANS

THE AFFORDABLE CARE ACT ( ACT ), NEW EMPLOYER MANDATES, AND IMPACTS ON EMPLOYER- SPONSORED HEALTH INSURANCE PLANS Community THE AFFORDABLE CARE ACT ( ACT ), NEW EMPLOYER MANDATES, AND IMPACTS ON EMPLOYER- SPONSORED HEALTH INSURANCE PLANS Prepared for the 2014 Massachusetts Municipal Association Annual Meeting On March

More information

Navigating the New Health Insurance Environment

Navigating the New Health Insurance Environment Navigating the New Health Insurance Environment The Affordable Care Act and Professional Employer Organizations (PEOs) This white paper is an overview of eight building blocks of an effective small-business

More information

HEALTH INSURANCE MARKETPLACES FACT SHEET

HEALTH INSURANCE MARKETPLACES FACT SHEET HEALTH INSURANCE MARKETPLACES FACT SHEET INFORMED ON REFORM Overview A Health Insurance Marketplace, also known as a Health Insurance Exchange, is available in every state as a public option for individuals

More information

The New Healthcare Law and Its Impact on Small Business

The New Healthcare Law and Its Impact on Small Business U. S. Small Business Administration Washington Metropolitan Area District Office The New Healthcare Law and Its Impact on Small Business Julie C. Verratti Advisor U.S. Small Business Administration Julie.Verratti@sba.gov

More information

www.thinkhr.com 877-225-1101 Employer Health Reform Checklist

www.thinkhr.com 877-225-1101 Employer Health Reform Checklist www.thinkhr.com 877-225-1101 Employer Health ThinkHR grants the reader non-exclusive, non-transferable, and limited permission to use this document. The reader may not sell or otherwise use this document

More information

American Health Benefit Exchanges Fact Sheet A Provision of the Patient Protection and Affordable Care Act (PPACA)

American Health Benefit Exchanges Fact Sheet A Provision of the Patient Protection and Affordable Care Act (PPACA) American Health Benefit Exchanges Fact Sheet A Provision of the Patient Protection and Affordable Care Act (PPACA) This Fact Sheet reflects the Final Ruling published by the Department of Health and Human

More information

This glossary provides simple and straightforward definitions of key terms that are part of the health reform law.

This glossary provides simple and straightforward definitions of key terms that are part of the health reform law. This glossary provides simple and straightforward definitions of key terms that are part of the health reform law. A Affordable Care Act Also known as the ACA. A law that creates new options for people

More information

Basics of Health Care Reform. What You Should Know

Basics of Health Care Reform. What You Should Know Basics of Health Care Reform What You Should Know The Affordable Care Act (ACA) has resulted in major across the U.S. health care system. This brochure provides an overview and timeline of the that have

More information

Fast Forward. 2015 Employer Mandate: Pay or Play?

Fast Forward. 2015 Employer Mandate: Pay or Play? Fast Forward 2015 Employer Mandate: Pay or Play? Employer Mandate Beginning Jan. 1, 2015, the Affordable Care Act (ACA) will impose an employer mandate that states that grandfathered and non-grandfathered

More information

www.thinkhr.com AFFORDABLE CARE ACT SMALL EMPLOYER HEALTH REFORM CHECKLIST

www.thinkhr.com AFFORDABLE CARE ACT SMALL EMPLOYER HEALTH REFORM CHECKLIST www.thinkhr.com AFFORDABLE CARE ACT SMALL EMPLOYER HEALTH REFORM CHECKLIST Employers that provide health coverage to employees are responsible for complying with many of the provisions of the Affordable

More information

Summary of Potential Employer Penalties Under the Patient Protection and Affordable Care Act (PPACA)

Summary of Potential Employer Penalties Under the Patient Protection and Affordable Care Act (PPACA) Summary of Potential Employer Penalties Under the Patient Protection and Affordable Care Act (PPACA) Hinda Chaikind Specialist in Health Care Financing Chris L. Peterson Acting Section Research Manager

More information

Advisory. The Health Care Reform Bill: How Will Its Tax Provisions Impact You and Your Business? April 2010. Impact on Employers

Advisory. The Health Care Reform Bill: How Will Its Tax Provisions Impact You and Your Business? April 2010. Impact on Employers certified public accountants business consultants Advisory April 2010 The Health Care Reform Bill: How Will Its Tax Provisions Impact You and Your Business? The recently passed Patient Protection and Affordable

More information

Nevada Employer s Guide to the Affordable Care Act. Nevada Division of Insurance

Nevada Employer s Guide to the Affordable Care Act. Nevada Division of Insurance Nevada Employer s Guide to the Affordable Care Act Nevada Division of Insurance Nevada Employer s Guide to the Affordable Care Act State of Nevada Department of Business and Industry Division of Insurance

More information

Simple answers to health reform s complex issues facing every employer, and what you can do now to protect your business and your future.

Simple answers to health reform s complex issues facing every employer, and what you can do now to protect your business and your future. Simple answers to health reform s complex issues facing every employer, and what you can do now to protect your business and your future. If you have any questions, please contact: Health Reform: A Guide

More information

American employers need prompt action on these six significant challenges. We urge Congress and the administration to address them now.

American employers need prompt action on these six significant challenges. We urge Congress and the administration to address them now. In June 2014, the Board of Directors of the American Benefits Council (the Council) approved a long-term public policy strategic plan, A 2020 Vision: Flexibility and the Future of Employee Benefits. It

More information

Health Care Reform: 2015 Refresher of the Affordable Care Act (ACA)

Health Care Reform: 2015 Refresher of the Affordable Care Act (ACA) Health Care Reform: 2015 Refresher of the Affordable Care Act (ACA) Brought to you by Aon Presented by: Ryan Comstock & Shawna Brown This information is provided for informational purposes only and is

More information

Helbling Benefits Consulting Your Health Care Reform Partner

Helbling Benefits Consulting Your Health Care Reform Partner Helbling Benefits Consulting Your Health Care Reform Partner Will you be hit with penalties due to health care reform? Once the employer mandate becomes effective, some employers may have to pay a penalty

More information

2015-2016: What You Need To Know About The Affordable Care Act

2015-2016: What You Need To Know About The Affordable Care Act 2015-2016: What You Need To Know About The Affordable Care Act A nonprofit independent licensee of the Blue Cross Blue Shield Association National strength. Local focus. Individual care. SM We are committed

More information

Christy Tinnes, Brigen Winters and Christine Keller, Groom Law Group, Chartered

Christy Tinnes, Brigen Winters and Christine Keller, Groom Law Group, Chartered Preparing for Health Care Reform A Chronological Guide for Employers This Article provides an overview of the major provisions of health care reform legislation affecting employers and explains the requirements

More information

Your guide to health care reform provisions

Your guide to health care reform provisions Your guide to health care reform provisions February 2014 edition Since the Patient Protection and Affordable Care Act (PPACA) was enacted in March 2010, businesses have been impacted by federal health

More information

Employer s Guide To Health Care Reform

Employer s Guide To Health Care Reform Employer s Guide To Health Care Reform A nonprofit independent licensee of the Blue Cross Blue Shield Association National strength. Local focus. Individual care. SM As part of our commitment to being

More information

OVERVIEW OF PRIVATE INSURANCE MARKET REFORMS IN THE PATIENT PROTECTION AND AFFORDABLE CARE ACT AND RESOURCES FOR FREQUENTLY ASKED QUESTIONS

OVERVIEW OF PRIVATE INSURANCE MARKET REFORMS IN THE PATIENT PROTECTION AND AFFORDABLE CARE ACT AND RESOURCES FOR FREQUENTLY ASKED QUESTIONS OVERVIEW OF PRIVATE INSURANCE MARKET REFORMS IN THE PATIENT PROTECTION AND AFFORDABLE CARE ACT AND RESOURCES FOR FREQUENTLY ASKED QUESTIONS Brief Prepared by MATTHEW COKE Senior Research Attorney LEGISLATIVE

More information

Employee Benefits Update Including PPACA

Employee Benefits Update Including PPACA Employee Benefits Update Including PPACA Christine Burke Worthen, Esq. Assistant General Counsel Eastern Maine Healthcare Systems Brewer, Maine Recap: PPACA Provisions Already in Effect (2011 Plan Year)

More information

Selected Employer Provisions in the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010

Selected Employer Provisions in the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 Selected Employer Provisions in the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 This chart outlines, in depth, selected provisions in the Patient

More information

Employer-Shared Responsibility

Employer-Shared Responsibility Affordable Care Act Planning to Deal with the Pay-or-Play Penalties Effective January 1, 2015 Anne Hydorn Hanson Bridgett LLP Telephone: (415) 995-5893 Email: ahydorn@hansonbridgett.com Judy Boyette Hanson

More information

Health Reform Employer Impact Analysis. Sample Employer. Prepared for. Date

Health Reform Employer Impact Analysis. Sample Employer. Prepared for. Date Health Reform Employer Impact Analysis Prepared for Sample Employer Date 2 Health Reform Employer Impact Analysis Overview Beginning in 2014, an applicable large employer becomes subject to what are referred

More information

An Employer s Guide to Health Care Reform

An Employer s Guide to Health Care Reform An Employer s Guide to Health Care Reform Important details to navigate employer-provided benefits amidst a changing health care landscape. PAGE 1 Navigating a new health care landscape Health care reform,

More information

CLICK HERE TO ADD TITLE

CLICK HERE TO ADD TITLE CLICK HERE TO ADD TITLE HEALTH CARE REFORM & ITS EFFECTS ON YOUR BUSINESS Presented by Jenny Arthur, SPHR AGENDA Background/History The Past: Previously Implemented HCR Provisions The Present: Current/Pending

More information

Employer's guide to health care reform

Employer's guide to health care reform Employer's guide to health care reform Employer's guide to health care reform: the complete small business resource With the Affordable Care Act (ACA) in full swing, it s important you understand what

More information

Important Effective Dates for Employers and Health Plans

Important Effective Dates for Employers and Health Plans Brought to you by Krempa Associates, Inc. Important Effective Dates for Employers and Health Plans On March 23, 2010, President Obama signed the health care reform bill, or Affordable Care Act (ACA), into

More information

W-2 Reporting Bulletin

W-2 Reporting Bulletin The Affordable Care Act requires employers to report the cost of coverage under an employersponsored group health plan on the employees Form W-2. [If you provide additional benefits under any other employer-sponsored

More information

Health Care Reform: Practical Implications for Employers 2014 and Beyond

Health Care Reform: Practical Implications for Employers 2014 and Beyond Health Care Reform: Practical Implications for Employers 2014 and Beyond Sarah Downie and Pat Anglin Orrick, Herrington & Sutcliffe LLP September 18, 2012 Employer Responses to Health Care Reform The Supreme

More information

ACA imposes a 40 percent excise tax on the cost of coverage exceeding $10,200 for single coverage and $27,500 for family coverage.

ACA imposes a 40 percent excise tax on the cost of coverage exceeding $10,200 for single coverage and $27,500 for family coverage. Affordable Care Act In Focus: Provisions Impacting Employer-Sponsored Health Coverage Through 2020 While many employers are wondering if self-funding is the right solution for their business, a number

More information

Exchanges and the ACA What You Need to Know for 2014

Exchanges and the ACA What You Need to Know for 2014 Exchanges and the ACA What You Need to Know for 2014 How the Affordable Care Act affects the Individual Health Insurance Market This presentation is for informational purposes only and does not constitute

More information

Guidance issued on employer shared responsibility requirements

Guidance issued on employer shared responsibility requirements Guidance issued on employer shared responsibility requirements The shared responsibility requirements are one of the most significant provisions that employers need to address under the Affordable Care

More information

#21 - Should You Provide Health Insurance in 2014?

#21 - Should You Provide Health Insurance in 2014? #21 - Should You Provide Health Insurance in 2014? Yes, for all size groups, but only if you can afford it and it serves other purposes (such as controlling competition for employees or you don t want

More information