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An Employer's Essential Guide to Critical ACA Implementation Dates

An Employer's Essential Guide To: Critical ACA Implementation Dates With many of the provisions of the Affordable Care Act (ACA) set to take effect on January 1, 2014, employers need to know the critical dates associated with this industry-changing legislation. 1/1/18 40% excise tax levied on "Cadillac Plans." A "Cadillac Plan" is a high-cost health insurance plan with premiums exceeding $10,200 for individuals or $27,500 for a family (not including vision and dental benefits). 1/1/16 Employers with less than 100 employees can purchase coverage through health insurance exchange. 1/1/15 Employer "pay or play" mandate takes effect. The "Pay or Play" mandates that employers either offer their employees health insurance or pay a penalty. 3/31/14 Health insurance exchange open enrollment ends. 1/1/14 Medicaid expanded to include individuals between the ages of 19 up to 65 (parents & adults without dependent children) with incomes up to 138% federal poverty level based on modified adj gross income. 1/1/14 Individuals must buy health coverage or pay a tax (starts at the greater of $95 per person/ $47.50 per child or 1% of household income). 1/1/14 Health insurance exchange coverage begins. 1/1/14 RTW Definition and 90 day limit on eligibility waiting periods take effect. 1/1/14 Wellness rewards or incentives may 1/1/14 Small group insurance market reforms (guaranteed issue & renewability); No limits on pre-existing conditions for adults; No annual benefit limits; Cover costs of clinical trials; caps on deductibles ($2k individual, $4k family); rate band increases from 1:2 to 1:3. increase in 2014 from 20% to 30% of the cost for single coverage. 1/1/14 Health Insurance Tax on all fully-insured health plans effective. 10/1/13 Employers must provide communication to employees regarding the availability of coverage through state healthcare exchanges. 10/1/13 Health insurance exchange open enrollment begins for coverage beginning 1/1/14. Spüng © 2013 Spring Consulting Group, LLC. All rights reserved.

An Employer's Essential Guide to Critical ACA Implementation Dates

shared by craigsmith on Oct 07
This handy infographic illustrates the many critical ACA implementation dates that employers and their employees should know.


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