As National Healthcare Reform continues to unfold, the MBPA and MFBA will continue to provide our member business owners and representatives with the latest information possible to help better understand and clarify the potential effects of the new laws. Below are a number of resources with straightforward answers to many questions you may have:
As National Healthcare Reform continues to unfold, the MBPA and MFBA will continue to provide our member business owners and representatives with the latest information possible to help better understand and clarify the potential effects of the new laws. Below are a number of resources with straightforward answers to many questions you may have.
12 Commonly Asked Questions
Working with our legal partner Dykema, they have prepared a summary of both the Patient Protection and Affordable Care Act (PPACA) and the Reconciliation Act that were passed in March 2010. They have identified 12 key commonly asked questions that impact employers and their self-funded or fully insured health care benefit programs, and provided specific information. For these questions and answers, click here.
"Grandfather Rule" Reference
The "Grandfather Rule" implements a portion of the Affordability Care Act and effects individuals, employers and insurers. For frequently asked questions on this portion of the act, click here.
Update to the Grandfather Rule (11/15/10) by attorney at law, Larry Grudzien. More flexibility is now available, click here.
Blue Cross Blue Shield of Michigan has prepared several reference pieces on different dimensions of our new National Healthcare reform laws. You may find one or more of these links useful in answering frequently asked questions:
• For groups navigating health reform laws, click here.
• How plan year impacts individuals and groups, click here.
• Continuing coverage for dependent children, click here.
• Frequently Asked Questions for group customers, click here.
• You pay nothing for these Preventative Blue Services, click here.
• News from the Blues - Nondiscrimination Requirements & Simplification of Administration, click here.
The National Association of Health Underwriters has prepared this power point presentation on National Healthcare Reform covering such subjects as Grandfathered Plans, Non-Grandfathered Plans, PPACA in 2012 thru 2014, ‘Essential Benefits’, Health & Wellness, as well as an important listing of Employer Responsibilities. Click here to download the Powerpoint file.
National Healthcare 1099 Law Changes
Starting in 2012 small business 1099’s could quadruple! Part of the National Healthcare Reform legislation passed in March of this year will require companies making payments to vendors in excess of $600 a year to report payments to the IRS. For more information, click here.
IRS Guidance on Small Business Eligibility for Tax Credit on Healthcare Premiums
To determine if you are eligible and what steps you need to take to obtain this credit for 2010 going forward, click here.
Update December 2, 2010 -- Final guidance on Tax Credit eligibility and claims forms for 2010 Tax Year click here.
Businesses Could Face Penalties for Non-Compliance
If businesses don't comply with many of the new national healthcare reform legislation elements, the results could be very costly. To better understand these potential penalties and help prevent them, click here.