Below Mike Grinnell, HF&C's Vice President of Group Benefits, answers more questions asked during a recent seminar on the new Health Care Reform:
When does the over the counter drug change become effective?
Beginning in 2011, Over The Counter (OTC) drugs will no longer be reimbursable under HSA's, medical FSA's, HRA's, and Archer MSA's unless they are prescribed by a doctor.
Will the Reform Bill effect my FSA contributions?
Yes. Beginning in 2011, the amount of contributions to health FSA's is limited to $2500 per year.
When does the reporting of health benefits on the W-2's begin?
Employers are required to start reporting the aggregate cost of employer-sponsored health benefits payable during the taxable years beginning after December 31, 2010.
What is the CLASS Act?
Beginning January 1, 2011 the Community Living Assistant Services and Supports (CLASS) Act states that all employers would be required to enroll employees in a new national public long-term care program, unless the employee elects to opt out.
If you have any questions please feel free to contact Mike at 315-451-1500 or mgrinnell@haylor.com.
Thursday, August 26, 2010
Monday, August 23, 2010
Your Health Care Reform Questions Answered
Below Mike Grinnell, HF&C's Vice President of Group Benefits, answers several questions that were asked during a recent seminar on the new Health Care Reform:
What does auto enroll mean?
Employers with more than 200 full-time employees and that offer enrollment in one or more health benefit plans are required to automatically enroll new full-time employees in a health benefits plan after enabling regulations are released. Furthermore, the automatic enrollment must include adequate notice to the employee of the right to opt out of coverage.
Auto enroll: Is there an opt out period?
Yes, enrollment must include adequate notice to the employee of the right to opt out of the coverage
Are the immunizations in the prevention services 100% covered for adults as well as children?
Child and adult immunizations recommended by the Advisory Committee on Immunization Practices of the Centers for Disease Control and Prevention must be covered
Are the considerations the same for profit and not-for-profit?
Yes, both for profit and not-for-profit organizations are subject to Health Care Reform.
If you have any questions please feel free to contact Mike at any time at 315-451-1500 or mgrinnell@haylor.com
What does auto enroll mean?
Employers with more than 200 full-time employees and that offer enrollment in one or more health benefit plans are required to automatically enroll new full-time employees in a health benefits plan after enabling regulations are released. Furthermore, the automatic enrollment must include adequate notice to the employee of the right to opt out of coverage.
Auto enroll: Is there an opt out period?
Yes, enrollment must include adequate notice to the employee of the right to opt out of the coverage
Are the immunizations in the prevention services 100% covered for adults as well as children?
Child and adult immunizations recommended by the Advisory Committee on Immunization Practices of the Centers for Disease Control and Prevention must be covered
Are the considerations the same for profit and not-for-profit?
Yes, both for profit and not-for-profit organizations are subject to Health Care Reform.
If you have any questions please feel free to contact Mike at any time at 315-451-1500 or mgrinnell@haylor.com
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