Prescribed Side Effects of the Patient Protection and Affordable Care Act (PPACA): Healthcare Reform Update
|
|
- Allen Turner
- 8 years ago
- Views:
Transcription
1 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 Presented by: Jay Hutto, CPA Prescribed Side Effects of the Patient Protection and Affordable Care Act (PPACA): Healthcare Reform Update 1
2 Housekeeping How to ask questions Technology questions CPE Eligibility About Your Presenter Jay Hutto, CPA Partner James Moore, CPAs 2
3 August 14, 2013 Presented by: Jay Hutto, CPA Prescribed Side Effects of the Patient Protection and Affordable Care Act (PPACA): Healthcare Reform Update Health Care Overview The business reporting and penalties have been delayed until January 1, 2015 The individual mandate penalty will be enforced effective January 1, 2014 via the Form 1040 For the Health Care Marketplace (Exchanges), there will be new storefronts, kiosks, call centers, in-person assisters and navigators assisting individuals with obtaining coverage Florida is one of the majority of states that do not have a separate exchange so individuals and small businesses will go to for information 3
4 Health Care Review Medicare Part D (prescription drugs) Additional charge for those with incomes above $170,000 (couples) / $85,000 (single) Medical device manufacturers and importers must pay a 2.3% tax imposed on the sale of any medical device Status of Reform Provides opportunity to obtain health insurance providing essential health benefits with minimal essential coverage PCORI fees for self-insured and health reimbursement accounts (HRAs) are paid on Form 720 and will be included in health insurance premiums for policies with policy years ending after September 30, The fee is $1 per covered person ($2 for plan years after September 30, 2013). Notices of health insurance coverage are required to be provided by employers to employees by October 1, 2013 Medical Loss Ratio (MLR) Insurance Rebates are paid if the health insurance issuer does not spend at least 80% or 85% of premium dollars on medical care starting back in 2012 Cap on out-of-pocket costs extended to
5 Summary of PPACA 2010 and 2011 Small business tax credit since 2010 Dependent coverage up to 26 and no discrimination for pre-existing conditions Over-the-counter drugs (OTCD) are no longer treated as allowable for FSA, HSA, HRA and MSA Increased tax on nonqualifying HSA and MSA distributions to 20% Small Business Health Care Credit Available for certain businesses offering health coverage For uniform non-elective contributions if business has no more than 25 FTE with an average annual wage of no more than $50,000 The maximum credit is the lesser of: Actual insurance paid by the employer, or What the employer would have paid had the employee enrolled in coverage with a small business benchmark premium (Rev. Rul ) Multiplied by the percentages below: : 35% 2014 and beyond: 50% Credit phase-out is the sum of: The credit x (# of FTE 10)/15, and The credit x (average annual wage $25,000)/$25,000 Employer contribution must be at least 50% of the premiums paid for single (employee only coverage) 5
6 Summary of 2012 Reporting of cost of employer-sponsored health coverage (250 or more W-2s) Summary of Benefits and Coverage must be provided Medical loss rebates Electronic medical records (EMR) How will I be affected in 2013? What does this mean for taxpayers? Additional Medicare Tax: For single taxpayer employees earning over $200,000 (married taxpayers filing jointly $250,000) Pay an additional 0.9% Medicare tax over the 1.45% tax currently applicable Tax applies to wages and selfemployment income in excess of threshold Thresholds not affected by inflation Penalty for being married No employer match on 0.9% tax 6
7 Tax on Earnings - Example John Single taxpayer Self-employed $500,000 Excess of Earnings Threshold $500,000 - $200,000 $300, % surtax would apply to $300,000 = $2,700 Additional Tax Medicare Surtax 3.8% of the lesser of 1. Net Investment Income OR 2. The excess (if any) of: - Modified Adjusted Gross Income (MAGI) - Threshold Amount ($200,000 single, $250,000 married) 7
8 3.8% Medicare Surtax Example 1 John Single taxpayer $100,000 of salary $50,000 net investment income 3.8% surtax would NOT apply MAGI is less than threshold MAGI $150, % Medicare Surtax Example 2 Tom & Sandy Married, filing jointly $400,000 salary income $50,000 net investment income Excess of Earnings Threshold $400,000 - $250,000 $150, % surtax would apply to $50,000 = $1,900 Additional Tax AND 0.9% surtax would apply to $150,000 = $1,350 Additional Tax 8
9 Summary of 2013 Medicare payroll tax Unearned income surtax Medical expense deduction exceeds 10% of AGI New FSA contribution limits of $2,500 per year Medical device manufacturer excise tax Notice regarding exchange was delayed from March 1, 2013 to October 1, 2013 Impact for 2014 and After Health insurance exchanges Penalties if no health insurance post 2013 for individual mandates Penalties if large employer and no health insurance for full-time workers post 2014 for employer mandates Reporting requirements post 2014 also for employers Pay or Play penalty for Depends on whether coverage is offered - Penalty can be as high as $2,000 - $3,000 per employee 9
10 Impact for 2014 and After Waiting period 90 days Increase access to Medicaid in certain states based on % of poverty level Pre-existing coverage conditions and no limits Cadillac Health Plan - 40% Excise Tax (2018) Year Provision 2013 Flexible spending arrangement the maximum drops to $2,500 per plan year New HI (hospital insurance tax) on high-income taxpayers (.9% tax on wages in excess of threshold amount) New 3.8% Medicare tax on investment income Medical care itemized deduction threshold increases to 10% of AGI starting in 2013 but remains at 7.5% for those age 65 and older until 2016 Notification to employees by October 1, States will be required to provide federally approved insurance plans or default to federal marketplace Premium assistance credit Excise tax on uninsured individuals on Form Excise tax on applicable large employers Insurer reporting requirements 2017 Increase in medical deduction threshold for taxpayers age 65 and over 2018 Excise tax on high-cost employer plans 10
11 Individual Health Insurance Plans The insurance price is determined by only four criteria: 1. Age Older people will not pay more than three times the amount younger people pay 2. Premium Rating Area High cost areas will have more expensive insurance 3. Number of family members covered 4. Tobacco use Observation: Young adults and men may see an increase in premiums Essential Health Benefits Generally, the following (ten) benefits must be provided with no annual or lifetime limits: 1. Ambulatory services 2. Emergency services 3. Hospitalization 4. Maternity and Newborn care 5. Mental Health and substance abuse 6. Prescription drugs 7. Rehabilitative services 8. Laboratory services 9. Pediatric services including oral and vision care 10. Preventative and wellness services and chronic disease management 11
12 Individual Mandate The requirements & the penalty Premium Assistance Credit Note: Not like a normal credit. The money goes directly to the insurance company. Exceptions Minimum Essential Coverage Penalty for Remaining Uninsured Under 18 is ½ of that imposed on adults Responsible for providing coverage if able to claim a personal exemption Penalty = greater of a percentage of the taxpayer s income or a flat dollar amount The per adult annual penalty is phased in: 2014: Greater of 1% of applicable income* or $ : Greater of 2% of applicable income or $ : Greater of 2.5% of applicable income or $ and beyond: Indexed for inflation from $695 12
13 Premium Assistance Credit Tax credit available for incomes up to 400% of the federal poverty level Currently: $44,680 (single) $92,200 (family of four) Have to obtain insurance through an exchange The taxpayer is only eligible for the credit if the employer coverage is unaffordable If the employee must pay (self-coverage only) premiums that exceed 9.5% of household income Eligibility is determined month-bymonth Premium Assistance Credit Household Income Example Taxpayer buys insurance at the exchange and the exchange makes advanced payments on behalf of the taxpayer (after the exchange determines eligibility). The taxpayer reconciles the actual credit for the tax year computed on his 1040 with the advanced payment amount made on his behalf. If the credit exceeds the amount of advance payments, he gets a refund. If the advanced payments exceed the credit, he owes. Repayment of excess - The repayment limitation is between $600 - $2,500 ($300-$1,250 single) The credit is the lesser of the premiums for the month or a calculation based on your Household Income 13
14 Cost Sharing Reduction Subsidy The Cost Sharing Reduction Subsidy is available to those that qualify with income that does not exceed 250% of the FPL This subsidy allows for a reduction in the amount of out-of-pocket expense they could incur Applies to deductibles and co-pays Must buy insurance through an Exchange to qualify Exemption From Penalty 8% Rule Premiums exceed 8% of Adjusted Household Income Adjusted Household Income is AGI plus: 1. Tax exempt income and 2. Foreign earned income and housing excluded under section 911 Also include the AGI of dependents who are required to file a return If an individual can only buy through an Exchange the cost is based on Bronze level premiums 14
15 Employer Mandate Large employers Had at least 50 FTE (average at least 30 hours per week or 130 hours per month) during the previous calendar year Effective January 1, 2015 Aggregate number of hours of part-time employees number of FTE Exemption applies where the workforce exceeds 50 FTE for no more than 120 days and the employees in excess of 50 were seasonal Employer Mandate Penalties Two Potential Penalties 1. No Coverage Penalty: An employer does not offer minimum essential insurance to at least 95% of its full- time employees (in 2015 this includes dependents) and at least one employee qualifies for the Premium Assistance Credit or Cost Sharing Reduction. The penalty is calculated on a monthly basis and there is a 30 FTE threshold before the penalty is applied. 2. Lacking Minimum Value or Unaffordable Penalty: An employer does offer minimum essential coverage to at least 95% of full- time but at least one employee qualifies for the Premium Assistance Credit or Cost Sharing Reduction. The penalty is assessed monthly with a maximum of the above penalty. 15
16 Example In 2014 ABC, Inc. offers minimum essential coverage and has 100 FTE; 20 of whom receive a premium tax credit for enrolling in a state program. For each employee receiving a premium credit the penalty is $3,000 for a total of $60,000 (20 $3,000) The penalty is capped at the failure to provide coverage rate of 70 (100 30) $2,000 = $140,000 The penalty is assessed monthly Affordable Coverage No more than 9.5% of that employee s annual household income If an employer offers multiple healthcare coverage options: Test applies to the lowest-cost option available to the employee that also meets the minimum value requirement Employers can take advantage of one of the following safe harbors to determine if the coverage is affordable: Form W-2 Determination Federal Poverty Line Method Rate of Pay Method 16
17 Minimum Value Methods for an employer to determine whether the coverage it offers provides minimum value: Minimum value calculator Employers can input information and determine if the plan provides minimum value by covering at least 60% of the expected costs Insurance agent or company Employer Mandate Tax Planning Measurement Period Keep Employees Below 30 Hours Per Week Use Independent Contractors Health Insurance Coverage 17
18 Cadillac Plans Excise Tax 40% tax imposed on high cost employer-sponsored and self-insured plans The tax is levied on insurance companies and plan administrators It is applied to annual insurance premiums for those under 55 that exceed $10,200 for individuals and $27,500 for families For those aged 55 and above, the threshold is $11,850 for individuals and $30,950 for families There are age, gender and other adjustments How to Prepare? 18
19 Questions Jay Hutto, CPA Partner James Moore, CPAs ext
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 informationHEALTH 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 informationAnswers 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 informationABC Company 123 Main Street Anywhere, USA 12345 www.sampleabccompany.com 800.123.4567
WHAT HEALTH CARE REFORM MEANS FOR YOUR BUSINESS Your promotional imprint here and/or back cover. ABC Company 123 Main Street Anywhere, USA 12345 www.sampleabccompany.com 800.123.4567 The Patient Protection
More informationEffective 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 informationHealth 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 informationHealth 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 informationHealth 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 informationAdvisory. 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 informationThe Healthcare Law April 19, 2010
The Healthcare Law April 19, 2010 This healthcare bill, recently made law, is a comprehensive overhaul that increases coverage to 94% of Americans and makes sweeping changes to our current healthcare system.
More informationTax Implications of Health Care Reform
Tax Implications of Health Care Reform Presented by: Art Sparks, CPA Partner Certified Public Accountants Summary Summary The Patient Protection and Affordable Care Act (PPACA) and the companion Health
More informationIntroduction. 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 informationThe Insurance Mandates of the Affordable Care Act
1 A. Affordable Care Act Individual Mandate The Insurance Mandates of the Affordable Care Act 1. All citizens of the United States are subject to the individual mandate as are all permanent residents and
More informationHealth 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 informationWhat an employer should know about Health Care Reform
What an employer should know about Health Presented By David L. Fear, Sr. RHU NAHU Education Foundation Sponsored by PPACA - history Signed into law in March, 2010 2,700 page rough draft became the law
More information4/8/2013. Health Care Reform and the. NYS Exchange. Dr. Arthur Vercillo, MD Regional President April 8, 2013. Health Care Reform and the NYS Exchange
Health Care Reform and the NYS Exchange Presentation to the Health Planning Council Advisory Board April 8, 2013, Ithaca NY By Dr. Arthur Vercillo, MD Additional resources on next to last slide. Health
More informationHealth 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#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 informationHealth 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 informationHEALTH 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 informationBasics 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 informationThe 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 informationWHAT HEALTH CARE REFORM
WHAT HEALTH CARE REFORM MEANS FOR YOUR BUSINESS Celebrating A Tradition our of Excellence 85th Year of Since Excellence 1924 2322 Tremont Drive Baton Rouge, LA 70809 225.928.4770 www.htbcpa.com 178 Del
More informationExchanges 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 informationThe 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 informationEmployer 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 informationThe 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 informationIt goes by many names: Patient Protection and Affordable Care Act (PPACA) or ACA or Obama Care or simply Healthcare Reform.
WHAT IS HEALTHCARE REFORM? Healthcare Reform (HCR) is a law passed by Congress that provides many different requirements. A very important aspect of the law is that it is designed to provide individuals
More informationHealth Care Reform and You
Health Care Reform and You Timelines and Implications of the Law for Individuals Updated as of February 2016 Health Care Reform and You The Patient Protection and Affordable Care Act and the Health Care
More informationPatient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Employer Information
Patient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Employer Information DISCLAIMER 2 This information is being provided in an effort to alert you to changes required by the
More informationHealth Care Reform Legislation and You
(Customizable space for CPA Firm Logo to go here) Health Care Reform Legislation and You Timelines and Implications of the New Law for Individuals Updated as of January 2011 The Health Care Reform Legislation
More informationAffordable 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 informationThe Affordable Care Act: Health Coverage Options & Considerations in 2014
The Affordable Care Act: Health Coverage Options & Considerations in 2014 J A C K S O N V I L L E A R E A C H A M B E R O F C O M M E R C E A U G U S T 2 7, 2 0 1 3 L A U R A M I N Z E R E X E C U T I
More informationHow The Affordable Care Act will Affect You and Your Business. Logo
How The Affordable Care Act will Affect You and Your Business. AFFORDABLE CARE ACT (ACA) DISCLOSURE The information provided is to be used as a guide. Since the ACA is still a work in progress, changes
More informationScott Lyon, Senior Vice President Small Business Association of Michigan
Scott Lyon, Senior Vice President Small Business Association of Michigan Patient Protection and Affordable Care Act H.R. 3590 Health Care & Education Affordability Reconciliation Act H.R. 4872 20,000 30,000
More informationThe Tax Consequences of ObamaCare
BLOG» The IRS and its 46 new powers to enforce ObamaCare June 5, 2013 The power granted to the IRS to enforce ObamaCare s mandates, taxes, penalties, reporting, and other requirements is unprecedented.
More informationSummary 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 informationImportant 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 informationImportant Effective Dates for Employers and Health Plans
Brought to you by Sullivan Benefits 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 law.
More informationPREPARE FOR AFFORDABLE CARE ACT NOW & AVOID PENALTIES!
PREPARE FOR AFFORDABLE CARE ACT NOW & AVOID PENALTIES! Ken Laks, Tax Specialist Eric Dielmann, Employee Benefit Specialist PRESENTED BY WHY WORRY? Employer Mandate has Been Postponed until 2015! Guaranteed
More informationHealth Care Reform and You
Health Care Reform and You Timelines and Implications of the Law for Individuals Updated as of December 2013 Health Care Reform and You The Patient Protection and Affordable Care Act and the Health Care
More informationThe Affordable Care Act: What Does it Mean for Individuals and Families?
The Affordable Care Act: What Does it Mean for Individuals and Families? FIRM Team Fact Sheet 13-04 Available at http://www.firm.msue.msu.edu David B. Schweikhardt Adam J. Kantrovich Brenda R. Long Michigan
More informationHealth Care Reform. Employer Action Overview
Health Care Reform Page 1 of 6 Health Care Reform Immediatemmediate Employer Action Required Notes Employers must provide a reasonable break time for employees who are nursing mothers to express breast
More informationHealth Reform. Presented by USI Affinity
Health Reform Presented by USI Affinity USI Affinity Introduction USI Affinity has been working with Associations and their members for over 50 years. USI Affinity has offices in Philadelphia, Harrisburg,
More informationImportant Effective Dates for Employers and Health Plans
Brought to you by Hipskind Seyfarth Risk Solutions Important Effective Dates for Employers and Health Plans On March 23, 2010, President Obama signed the health care reform bill, or Affordable Care Act
More informationHealth-Care Reform. Begley Insurance Group, Inc. Mary Angelo 5225 Old Orchard Rd. Skokie, IL 60077 800-867-7074
Begley Insurance Group, Inc. Mary Angelo 5225 Old Orchard Rd. Skokie, IL 60077 800-867-7074 Health-Care Reform August 14, 2012 Page 1 of 8, see disclaimer on final page One primary goal of the Patient
More informationHealth Care Reform Checklist: Provisions, Obstacles and Solutions
Health Care Reform Checklist: Provisions, Obstacles and Solutions HEALTH CARE REFORM PROVISION: COVERAGE FOR CHILDREN UNTIL AGE 26 Summary of Benefit: Benefits are the same as those for other dependent
More informationHealth Care Reform and You
Health Care Reform and You Timelines and Implications of the Law for Individuals Updated as of January 2015 Health Care Reform and You The Patient Protection and Affordable Care Act and the Health Care
More informationHow To Calculate A Health Care Reform Employer Number
Health Care Reform Key Points Contact Us 855.220.8634 HealthCareReform@eidebailly.com Individual Implications Individual mandate to have health insurance Penalties applies if NO health insurance 2014 -
More informationSelected 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 informationHealth Insurance Marketplace 101. 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. March 2014 The Health Care Law In March 2010, President Obama signed the Affordable Care Act into law
More informationAmerican 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 informationHEALTH 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 informationHHealth 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 informationHealth Care Reform Frequently Asked Questions (FAQ) Consumers Employers
This page provides answers to frequently asked questions (FAQ) regarding The Patient Protection and Affordable Care Act (PPACA; P.L. 111-148) and the Health Care and Education Reconciliation Act of 2010
More informationOVERVIEW 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 informationPatient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Agent and Broker Information
Patient Protection and Affordable Care Act (ACA) ACA Guide for Group Employers Agent and Broker Information DISCLAIMER 2 This information is being provided in an effort to alert you to changes required
More informationHealth Reform. Employer Penalty Delay: What are the Consequences? Impact of the Delay on Employers
Health Reform Employer Penalty Delay: What are the Consequences? Martin Haitz (484) 270-2575 martin.haitz@marcumfs.com Issued date: 07/29/13 The employer penalty provisions and two reporting requirements
More informationSection 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 information2015-2016: 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 informationPatient 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 informationIssue Brief: The Health Benefit Exchange and the Small Employer Market
Issue Brief: The Health Benefit Exchange and the Small Employer Market Overview The federal health care reform law directs states to set up health insurance marketplaces, called Health Benefit Exchanges,
More informationAffordable Care Act: What The Health Care Law Means for Small Businesses
Affordable Care Act: What The Health Care Law Means for Small Businesses August 2013 Indian Country Business Summit These materials are provided for informational purposes only and are not intended as
More informationHealth Care Reform Legislation and You
Health Care Reform Legislation and You Timelines and Implications of the New Law for Individuals Updated as of May 2011 Health Care Reform Legislation and You The Patient Protection and Affordable Care
More informationAffordable Care Act Overview
Affordable Care Act Overview Your guide to health care reform law 205 Edition The foregoing information is general in nature and is intended to keep you apprised of certain important developments. This
More informationState of Wisconsin / OFFICE OF THE COMMISSIONER OF INSURANCE
State of Wisconsin / OFFICE OF THE COMMISSIONER OF INSURANCE Scott Walker, Governor Theodore K. Nickel, Commissioner Wisconsin.gov 125 South Webster Street P.O. Box 7873 Madison, Wisconsin 53707-7873 Phone:
More informationAffordable Care Act 101: What The Health Care Law Means for Small Businesses
Affordable Care Act 101: What The Health Care Law Means for Small Businesses July 2013 These materials are provided for informational purposes only and are not intended as legal or tax advice. Readers
More informationAffordable Care Act 101:
Affordable Care Act 101: What The Health Care Law Means for Small Non-Profit Employers in New Mexico Charlotte Roybal, Policy Connections West Liz Stefanics, Resources for Change Policy Works Lets Talk
More informationFederal 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 informationNavigating 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 informationHealth-Related Revenue Provisions in the Patient Protection and Affordable Care Act (P.L. 111-148)
Health-Related Revenue Provisions in the Patient Protection and Affordable Care Act (P.L. 111-148) Janemarie Mulvey Specialist in Aging Policy April 8, 2010 Congressional Research Service CRS Report for
More informationHealthcare Reform Preparedness for Small Businesses
Healthcare Reform Preparedness for Small Businesses Blue KC on Wheels Community awareness initiative Health screenings Wellness information Seminars on healthcare reform, health insurance and wellness
More informationHealth 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 informationThe Vermont Health Benefit Exchange: An Update for Small Business Owners
The Vermont Health Benefit Exchange: An Update for Small Business Owners Today s Presentation Health Reform Goals Overview of Health Care Reform What is the Exchange? What Does the Exchange Look Like?
More informationHealth care reform is once again
Marjorie M. Glover and Rachel M. Kurth Employee Benefit Plan Review Reprinted from April 2010 Health Care Reform: How It May Impact Employers, Employees, and Benefit Plans Health care reform is once again
More informationKey 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 informationNevada 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 informationPresented by South Dakota Community Action Partnership
Presented by South Dakota Community Action Partnership The project described was supported by Funding Opportunity Number CA-NAV-13-001 from the U.S Department of Health and Human Services, Centers for
More informationAffordable Care Act 101: What The Health Care Law Means for Small Businesses February 2013
Affordable Care Act 101: What The Health Care Law Means for Small Businesses February 2013 These materials are provided for informational purposes only and are not intended as legal or tax advice. Readers
More informationSURVIVAL 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 informationHEALTH 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 informationThe Patient Protection and Affordable Care Act ( ACA ) and Your Facility
The Patient Protection and Affordable Care Act ( ACA ) and Your Facility By Christine Garrity: Chief Administrative Officer & General Counsel for The Professional Golfers' Association of America President
More informationHealth Care Reform and Tax Implications
IMPACT OF HEALTH CARE REFORM ON INDIVIDUAL AND SMALL BUSINESS TAXES ATLANTA ASHEVILLE BIRMINGHAM CHICAGO DALLAS DENVER JACKSONVILLE LOS ANGELES MELBOURNE MEMPHIS MIAMI MINNEAPOLIS NEW YORK ORLANDO PHOENIX
More informationHealth Policy Essentials: Private Health Insurance. Bernadette Fernandez, Annie Mach, & Namrata Uberoi February 13, 2015
Health Policy Essentials: Private Health Insurance Bernadette Fernandez, Annie Mach, & Namrata Uberoi February 13, 2015 Briefing Agenda What is the purpose of private health insurance (PHI)? How is PHI
More informationChart: Key employer health care reform elements
Chart: Key employer health care reform elements Health care reform with major implications for employers has now become law, with a package of revisions heading for Senate action. The approved measure
More informationto Health Care Reform
The Employer s Guide to Health Care Reform What you need to know now to: Consider your choices Decide what s best for you Follow the rules 2013-2014 Health care reform is the law of the land. Some don
More informationSEMA MEMBERS WANT TO KNOW
SEMA MEMBERS WANT TO KNOW WHEN DID OBAMACARE TAKE EFFECT? It is being phased-in over 10 years beginning in 2010, with new requirements and benefits being added each year. The most consequential change
More informationSimple 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 informationHealthcare Provisions 2013/2014. What Small Businesses Need to Know
Healthcare Provisions 2013/2014 What Small Businesses Need to Know Healthcare Provisions 2013/2014 PPACA The healthcare reforms in the Patient Protection and Affordable Care Act (PPACA), commonly referred
More informationHEALTH 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 informationThis 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 informationTHE PATIENT PROTECTION AND AFFORDABLE CARE ACT and THE RECONCILIATION ACT
THE PATIENT PROTECTION AND AFFORDABLE CARE ACT and THE RECONCILIATION ACT On Sunday, March 21 st, the U. S. House of Representatives passed the Patient Protection and Affordable Care Act (H. R. 3590) by
More informationAn 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 informationHow To Prepare A Health Care Plan For A Job Interview
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 informationHealth 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 informationNavigating 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 informationThe Affordable Care Act: Summary of Employer Requirements
The Affordable Care Act: Summary of Employer Requirements July 2012 Discussion Outline Overview of the Affordable Care Act (ACA) Employer coverage requirements Employer reporting requirements Individual
More informationAFFORDABLE 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 informationHEALTH CARE REFORM INFORMATION FOR BUSINESSES March 2013
PARTNERS: Dennis V. King, CPA Charles R. Alleman, Jr., CPA Robert N. Jensen, Jr., CPA Thomas E. Engman, CPA SENIOR PARTNER: David F. King, CPA 27200 Tourney Road, Suite 475 Valencia, California 91355 tel
More informationAFFORDABLE CARE ACT FAQ
AFFORDABLE CARE ACT FAQ What is the Healthcare Insurance Marketplace? The Marketplace is a new way to find quality health coverage. It can help if you don t have coverage now or if you have it but want
More information