Staying up to Date on Healthcare Reform

Here’s a timeline of what you can expect from the health care reform law.

2010

As of March 23

*Early retiree reinsurance program, optional as of June 29, 2010

*Temporary high-risk pool for individuals with pre-existing conditions, operational as of July 1, 2010.

*Small group tax credit, effective for tax years beginning after December 31, 2009.

Implemented on the next plan year for all plans (grandfathered or
not) on or after September 23, 2010

*Dependent coverage for adult children up to age 26.

*No lifetime coverage limits.

*100% coverage for preventive services in-network (no required for grandfathered plans).

*No annual limits on certain types of benefits.

*No prior authorization for emergency services
or higher cost sharing for out-of-network emergency services.

*No pre-existing condition exclusions for children.

2011

*No pre-tax reimbursements from health account for non-prescribed, over the counter medications.

*20% tax for non qualified Health Savings Account withdrawals.

*Reporting the value of employer sponsored coverage on W-2s.

*Automatic enrollment in new long-term care program, with ability for employees to opt out.

*Small employers grants for wellness programs for Fiscal Year 2011, so technically starts October 1, 2010.

If you would like additional information please contact Wayne Perkins at 479-273-1376 or send an email to Wayne@CommercialRiskService.com.