Healthcare                         Reform                         Jon Zeisler, Director, Group Benefits                   ...
HEALTHCARE REFORM                    SUMMARY                    •    Patient Protection and Affordable Care Act (PPACA) si...
HEALTHCARE REFORMREVIEW - 2010 CHANGES•    Eliminate annual and lifetime coverage limits on “essential” benefits•    Elimi...
HEALTHCARE REFORMREVIEW - 2011 CHANGES•    Over-the-counter medications cannot be reimbursed under a FSA, HRA or HSA     p...
HEALTHCARE REFORMEFFECTIVE 2012•    Federal research fee of $1 per enrolled employee per month (PY after 10/1/12)•    Stan...
HEALTHCARE REFORMEFFECTIVE 2013•    Contributions to Medical FSA plans are capped at $2,500•    Medicare Payroll Tax will ...
HEALTHCARE REFORMEFFECTIVE 2013 (CONT.)•    Eliminate the tax-deduction for employers who receive Medicare Part D     reti...
HEALTHCARE REFORMEFFECTIVE 2014•    Eliminate annual and lifetime coverage limits on “non-essential” benefits•    Eliminat...
HEALTHCARE REFORMEFFECTIVE 2014 (CONT.)•    If employer-sponsored health plan premium exceeds 9.5% (??) of an employee’s  ...
HEALTHCARE REFORMEFFECTIVE 2015•    Health insurance penalty tax increases to $325 per uninsured adult and up to     $975 ...
HEALTHCARE REFORMEFFECTIVE 2016•    Health insurance penalty tax increases to $695 per uninsured adult and up to     $2,08...
HEALTHCARE REFORM2017 AND BEYOND•    2017 - Health insurance exchanges begin to operate for ALL employers•    2018 - 40% e...
HEALTHCARE REFORMABOUT RAFFA FINANCIALRaffa Financial Services, Inc. was founded in1999. The company has offices inRockvil...
HEALTHCARE REFORM                        THANK YOU FOR YOUR TIME                        JON ZEISLER                       ...
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2012-02-23 Intacct Acctg Systems

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2012-02-23 Intacct Acctg Systems

  1. 1. Healthcare Reform Jon Zeisler, Director, Group Benefits DateThrive. Grow. Achieve.
  2. 2. HEALTHCARE REFORM SUMMARY • Patient Protection and Affordable Care Act (PPACA) signed in to law on March 23, 2010 • Health Care and Education Reconciliation Act (HCERA) signed in to law onCallout goes here March 30, 2010 – amended PPACAlorem impsum • Estimated $1.2 TRILLION cost over the next 10 years • Expands coverage to 32 million Americans that are currently uninsureddolor sit amet… • Not health care reform, rather health insurance reform Health Care Reform/ Page 2
  3. 3. HEALTHCARE REFORMREVIEW - 2010 CHANGES• Eliminate annual and lifetime coverage limits on “essential” benefits• Eliminate pre-existing condition limitations for children under age 19• Provide for coverage for children until age 26• Emergency services are all paid “in-network”• Preventive care must be provided at no cost to member• Member may designate any in-network doctor as a primary care physicianHealth Care Reform/ Page 3
  4. 4. HEALTHCARE REFORMREVIEW - 2011 CHANGES• Over-the-counter medications cannot be reimbursed under a FSA, HRA or HSA plan, unless prescribed by a physician• Medical Loss Ratios (MLRs) are established (85% for large groups and 80% for small groups), and if MLR is not met, premium rebates must be issued by August 1st of the following year• Employers MAY begin reporting value of health plans on W-2s• HSA penalties increase from 10% to 20% for distributions for non-qualified medical expenses• Non-discrimination rules apply to all health plans (regs delayed to 2012)Health Care Reform/ Page 4
  5. 5. HEALTHCARE REFORMEFFECTIVE 2012• Federal research fee of $1 per enrolled employee per month (PY after 10/1/12)• Standardized Summary of Benefits and Coverage (regs delayed)• Employers issuing more than 250 W-2s must begin reporting value of health plans on W-2s (issued in January 2013)• Medical FSA limit applies for fiscal year plans• First year for employers to receive MLR rebates from 2011 plansHealth Care Reform/ Page 5
  6. 6. HEALTHCARE REFORMEFFECTIVE 2013• Contributions to Medical FSA plans are capped at $2,500• Medicare Payroll Tax will be expanded to include unearned income….a 3.8% tax on investment income for individuals making more than $200K per year ($250K per family)• Employee Medicare Tax increases to 2.35% for Medicare wages in excess of $200K per individual ($250K per family)• Federal research fee increases from $1 to $2 per enrolled employee per monthHealth Care Reform/ Page 6
  7. 7. HEALTHCARE REFORMEFFECTIVE 2013 (CONT.)• Eliminate the tax-deduction for employers who receive Medicare Part D retiree drug subsidy payments• All employers must begin reporting value of health plans on W-2s (issued in January 2014)Health Care Reform/ Page 7
  8. 8. HEALTHCARE REFORMEFFECTIVE 2014• Eliminate annual and lifetime coverage limits on “non-essential” benefits• Eliminate pre-existing condition limitations for ALL• Health insurance exchanges begin to operate for businesses with <100 employees• All U.S. Citizens MUST purchase health insurance or pay an annual fine of $95 or 1% of income, whichever is greater• Employers with 50 or more employees are required to offer employer-sponsored health plan, OR pay a penalty of $2,000 for each FTE in excess of 30 employeesHealth Care Reform/ Page 8
  9. 9. HEALTHCARE REFORMEFFECTIVE 2014 (CONT.)• If employer-sponsored health plan premium exceeds 9.5% (??) of an employee’s family income, and employee opts out, employer will pay a penalty of $3,000 per employee• Must auto-enroll all new employees for groups with 200+ employees (employees can opt-out)• Waiting periods cannot exceed 90 days• The incentive cap on wellness programs increases from 20% to 30% while HHS has the discretion to further increase this figure to 50%.• New employer reporting to IRSHealth Care Reform/ Page 9
  10. 10. HEALTHCARE REFORMEFFECTIVE 2015• Health insurance penalty tax increases to $325 per uninsured adult and up to $975 per household, or 2% of income, whichever is greaterHealth Care Reform/ Page 10
  11. 11. HEALTHCARE REFORMEFFECTIVE 2016• Health insurance penalty tax increases to $695 per uninsured adult and up to $2,085 per household, or 2.5% of income, whichever is greaterHealth Care Reform/ Page 11
  12. 12. HEALTHCARE REFORM2017 AND BEYOND• 2017 - Health insurance exchanges begin to operate for ALL employers• 2018 - 40% excise tax on “Cadillac” health plans • Annual premiums exceeding $10,200 per individual, or $27,500 per family• 2020 - Federal research fee of $2 per enrolled employee per month is phased outHealth Care Reform/ Page 12
  13. 13. HEALTHCARE REFORMABOUT RAFFA FINANCIALRaffa Financial Services, Inc. was founded in1999. The company has offices inRockville, MD and serves over 400 corporateclients, with a staff of 24 employees.Raffa Financial is a subsidiary of Raffa, PC.Raffa PC is the largest private accounting andconsulting firm in Washington, DC, with over220 professionals and staff. Raffa is noted forthe companies award winning corporatephilanthropy as illustrated in our 2010 SocialResponsibility Report. Health Care Reform/ Page 13
  14. 14. HEALTHCARE REFORM THANK YOU FOR YOUR TIME JON ZEISLER DIRECTOR, GROUP BENEFITSClick to edit callout DIRECT: (240) 403-2568 JON@RAFFAFINANCIAL.COM Health Care Reform/ Page 14

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