The Supreme Court Ruling: Employer FAQ’s

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On June 28, 2012 the U.S. Supreme Court essentially upheld the entire Affordable Care Act (ACA) as constitutional. Since the ruling, employers have had many questions about how this decision will affect them. Read on for the answers to a few of these FAQs.

What does this mean for ACA changes that have already been implemented? All of the ACA changes that have already been enacted, such as the requirement to cover adult children until age 26, will remain in effect. Additionally, all future changes will be implemented as planned.

Will ACA change in the future? While it is possible that changes will be made to ACA, it is currently in effect and employers should continue to prepare for the coming ACA reforms.

What are the most immediate changes and how will they affect me?  There are several upcoming changes to health care that employers should be aware of, including:

[rb_list type=”arrow”][rb_list_item]Various restricted annual limits are, or will be, in effect for plan years beginning before Jan. 1, 2014.[/rb_list_item][/rb_list]

[rb_list type=”arrow”][rb_list_item]For plan years beginning on or after Aug. 1, 2012, specific health services for women must be covered at no cost to the individual.[/rb_list_item][/rb_list]

[rb_list type=”arrow”][rb_list_item]Employers may receive medical loss ratio rebates in August 2012.[/rb_list_item][/rb_list]

[rb_list type=”arrow”][rb_list_item]Plans and issuers must provide a Summary of Benefits and Coverage to participants who enroll during the first open enrollment period that begins on or after Sept. 23, 2012.[/rb_list_item][/rb_list]

[rb_list type=”arrow”][rb_list_item]Many employers will be required to report the aggregate cost of employer-sponsored group health coverage on employees’ W-2 Forms. This requirement will affect the 2012 W-2 Forms, which are due in January 2013.[/rb_list_item][/rb_list]

For a full health care reform timetable or more information on health care reform contact us.