The creation of the exchanges which compete directly

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Unformatted text preview: hanges, which compete directly with “small group” insurers, will cause insurance companies to either exit or downsize their engagement in this market segment. All of these changes may mean a loss of jobs in the insurance industry across the country. It remains to be seen whether the jobs will shift to the state and federal governments to implement and manage the programs created by the PPACA. 2012 • Uniform Explanation of Coverage • 60-Day Notice of Material Modifications if Not Provided in Uniform Explanation of Coverage • Reporting the Value of Employer Sponsored Coverage on W-2s (delayed from 2011) 2013 • Employee Notification of Exchanges, Premium Subsidies and Free Choice Vouchers • FSA Contributions Limited to $2,500 per Year • Fee for Comparative Effectiveness Research Agency for Fiscal Year 2013 2014 • Individual Mandate • State-based Exchanges for Individuals and Small Groups • Small Employer Tax Credits Available Only in Exchange • Free Choice Voucher Required to be Provided to Qualifying Employees • Elimination of Health Status Rating and Other Rating Factors if Used By An Insurer (Guaranteed Issue) • Small Group Redefined as 1-100 (in most states) • Employer Requirement to Offer Minimum Essential Coverage (50 Employees) • HIPAA Nondiscrimination Rules on Wellness Programs • 90-Day Limit on Waiting Periods for Coverage • Employer Reporting Requirements 62 Regardless of what happens in the 2012 presidential election, the 1,100 p...
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