I thought I’d share some key takeaways from a recent presentation I attended on the Patient Protection and Affordable Care Act.

Most organizations have not…

1. Determined the expected financial impact of health care reform
2. Modeled scenarios to determine the cost-benefit of offering or not offering benefits to employees
3. Thought about the “look back” period and how to adjust employee hours accordingly
4. Considered how to design, implement, and manage a wellness program

Some important changes for employers with an average of 50 or more full time or full time equivalents during the preceding calendar year:

1. Affordability - in order to pass the affordability test and avoid triggering a penalty, employers cannot require employees to contribute more than 9.5% of their annual W-2 wages towards their medical plan premiums
2. Eligibility - anyone assigned full time status by the new regulations will have to be afforded the same healthcare options as other full time employees
3. Commencement of Coverage – the maximum waiting period is 90 calendar days, not 3 months, and includes weekends and holidays

And one change that impacts all employers:

1. Taxes – several new taxes go into effect on January 1, 2014 to fund certain provisions of health reform. These taxes, such as the health insurer tax, the transitional reinsurance tax and the comparative effectiveness research fee, will be charged to insurers and then passed along to employers through increased premium rates

For more information, including timelines, FAQs, regulatory guidance and recorded webinars, head to www.gbshealthcarereform.com