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Executive Summary: With the reelection of President Obama, health care reform is here to stay. Challenges to the law are still pending; however, employers need to comply with existing requirements and begin preparations for compliance with future requirements. In addition, new guidance and regulations are likely imminent.
Requirements that Take Effect in 2013
The most significant requirements of the 2010 Patient Protection and Affordable Care Act (PPACA) that will take effect in 2013 include:
New Guidance is Imminent
The election is expected to fast-track new health care guidance and regulations that likely have been postponed until after the election. Expected guidance includes a transitional federal reinsurance program that partially reimburses commercial insurers underwriting coverage for high health cost individuals starting in 2014, which could cost as much as $90 per health care plan participant; the imposition of a $2000 per full-time employee penalty on employers that do not offer qualified coverage to employees; and subsidies to uninsured individuals earning less than 400% of the federal poverty level.
Regulations are expected soon, and compliance with the proposed regulations could be within 180 days of issuance or sooner.
FordHarrison attorneys will be conducting a complementary webinar discussing health care reform and the impact of the election on December 11, 2012. To register for the webinar, please click on the following link: http://www.fordharrison.com/8846. If you have any questions regarding health care reform or other employee benefits issues, please contact Tiffany Downs, firstname.lastname@example.org, Isabella Lee, email@example.com, Scott Wagner, firstname.lastname@example.org, or any member of FordHarrison's Employee Benefits Practice Group.