With the passage of the $940-billion Patient Protection and Affordable Care Act 2010 (and reconciliation), significant changes are forthcoming for virtually all Americans with respect to how they purchase and secure health care and health insurance.

Because the bill created only the "framework", much of the "details" are yet to be outlined. We anticipate receiving clarity and guidance as government agencies, the IRS, insurers, unions, and new regulatory agencies develop the landscape for implementation and execution of the bill and its mandates.

Of note:

2010

• Small employers to receive IRS tax credit as incentive for purchasing/retaining health insurance for their employees.
• Dependent coverage will extend to dependents up to age 26, continued eligibility/enrollment on parents plans (9/2010).
• Medicare recipients who spend through the "doughnut hole" in their Medicare D Rx benefit will receive $250 rebate.
• Guaranteed issue to apply to children applying for health insurance, no pre existing condition exclusions (9/2010).

2011

• Medicare - Preventive benefits added to all plans at 100% reimbursement.
• Medicare recipients to receive significant discounts on drugs.
• Rate regulations for group insurance plans.
• Standardized loss ratios requirements for health insurers (majority of premiums to be spent for health care versus administration).
• Standardized communication of plans for all insurance programs.

2013

• Changes threshold on tax-deductible medical expenses from 7.5% of AGI to 10% AGI.
• Changes limits on contributions to Flexible Spending Accounts to $2,500 annually, adjusted for inflation.

2014

• Significant impact on all plans/pricing.
• Individual mandate for all citizens - penalties for non compliance.
• Employer mandate for coverage - penalties for non compliance.
• Guaranteed issue (acceptance) applies to all plans and coverage’s (groups and individuals).
• Expansion of Medicaid and introduction of purchasing pools/interstate exchanges.
• Lifetime limits become unrestricted for all plans.

2018

• "Cadillac" tax begins on plans exceeding certain thresholds for standardized benefits.

As more details become clear, we will post and regularly update this page.

Heatlth Care Reform E & Y 2010

IRS Small Bus Tax Credit 2010

Health Care Reform Action Timeline 2010

National Health Underwriter -Timeline for reform 2010