As employers learn more about Health Care Reform, they are identifying the potential impact it will have on their business. Organizations working to comply with the legislation’s provisions should know what is already in effect and what’s to come. Here are three things every employer should know about Health Care Reform.
1. Preventive care services for women is now available under Health Care Reform, without cost-sharing, for policies renewing on or after August 1, 2012.
Here is a brief summary of what must be covered under this provision:
a. Well-woman visits—Annually or more often if necessary
b. Screening for gestational diabetes—During pregnancy
c. DNA human papillomavirus testing—Every 3 years, if at least 30 years old
d. Counseling for sexually transmitted diseases—Annually
e. HIV counseling and screening—Annually
f. Contraceptive methods and counseling—As prescribed, all FDA-approved methods
g. Breastfeeding support, supplies and counseling—Coinciding with each birth
h. Screening/counseling for interpersonal and domestic violence—Annually
2. You may be eligible for the small business tax credit.
Beginning in 2010 and continuing through 2013, if your business has up to 25 full-time employees, average annual wages below $50,000 and provides health insurance, your business may qualify for a small business tax credit of up to 35%. For tax years 2014 and beyond, the small business tax credit increases to 50% (35% for non-profits) for qualifying businesses. You must purchase insurance through the exchanges in 2014 to qualify for the small business tax credit.
 3. Health FSAs have a new limit for plan years starting in 2013.
Health FSAs have a $2,500 salary reduction contribution limit. This limit is indexed for inflation. Plan documents and Summary Plan Descriptions must be revised.
You may also like:
HAP Provides Guidelines on Preventive Services
Health Care Reform: $2,500 Limit on Health FSAs
