What's new with the Affordable Care Act?

Although the Internal Revenue Service (IRS) recently announced a delay of the employer "play or pay" reporting requirements and penalties under the Affordable Care Act (ACA), the agency has confirmed that all other ACA deadlines remain unchanged, and federal regulators continue to issue gu...

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Bibliographic Details
Published in:Employee Benefit Plan Review 2013-08, Vol.68 (2), p.7
Main Authors: Kopp, Brian, Saracene, Kate, Mindy, Steven C
Format: Article
Language:English
Subjects:
Economic aspects
Employees
Employers
Fines & penalties
Health care policy
Health insurance
Insurance coverage
Laws, regulations and rules
Mandatory insurance coverage
Patient Protection & Affordable Care Act 2010-US
Reporting requirements
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Summary:Although the Internal Revenue Service (IRS) recently announced a delay of the employer "play or pay" reporting requirements and penalties under the Affordable Care Act (ACA), the agency has confirmed that all other ACA deadlines remain unchanged, and federal regulators continue to issue guidance that impacts employers immediately. In the May 3, 2013, Federal Register, the IRS issued new proposed health care reform regulations that clarify how employers are to calculate "Minimum Value" and "Affordability" of the health coverage offered to their employees. Despite the delay of the employer penalties, these regulations continue to have important implications for employers in 2013. The article gives a detailed discussion of such implications as related to the following: 1. minimum value standards, 2. the impact of account-based plans on minimum value and affordability, 3. the wellness program, and 4. limitations on mandatory coverage.
ISSN:0013-6808