HCW Benefits Blog

Contributor:
Laura Bibb, JD, Compliance Officer
Hill, Chesson & Woody

 One year ago today, President Obama signed the Patient Protection and Affordable Care Act (PPACA) into law.  And so began the journey through year one of healthcare reform.  It has been quite a ride and we would like to say “CONGRATULATIONS” to all employers!

As Ferris Bueller said, “Life moves pretty fast.  If you don’t stop and look around once in a while, you could miss it.”

In honor of the first anniversary of PPACA, let’s stop and look around at what has been accomplished.

On a grand scale:

• PPACA contains 907 pages
• 960+ pages of regulations/guidance issued by the government affecting employee benefit plans

Provisions we have tackled at HCW:

• Small employer tax credit
• Grandfathered plan rules
• Early Retiree Reinsurance Program (ERRP)
• Prohibition on pre-ex for those under 19 years old
• Adult child coverage to age 26
• No lifetime limits
• Annual limit restrictions
• Medical loss ratio
• Nondiscrimination for fully-insured plans
• Designation of PCP
• Emergency and OB/GYN without preauthorization
• Preventive care services covered at 100%
• FSA, HSA, HRA changes – no reimbursement for OTC drugs
• W-2 reporting
• Cafeteria plan for small employers
• Requirements for nursing mothers

Communications and tools provided to HCW clients:

• 26 reform-related Compliance Alerts
• 8 new model notices for employers
• Strategically focused, customized reform plan-of-action for all clients
• Several HCW clients approved for and are participating in the Early Retiree Reinsurance Program
• A Grandfathered Plan Calculator
• A Small Employer Tax Credit Calculator
• Three other client calculators in the works for 2011

Guidance HCW has provided all North Carolina employers:

• Healthcare Reform: The Employers' Guide a public, free informational reform conference held at the McKimmon Center in Raleigh June 10, 2010
• HCW staff have presented on healthcare reform at an estimated 25+ events (and counting!)

Today at HCW, we are taking a moment to reflect on how much has changed, our incredible response to that change, and all of the new opportunities that will arise from all the change to come…

…and we had some cake too!

We are already looking ahead to 2014 and the changes to come between now and then.  Thank you for allowing us at HCW to help you navigate this journey!