Issue link: http://www.insightdigital.biz/i/177117
bac k o ffic e Understanding compliance Manufacturers still need to take action on some provisions of health care reform By Mary Felton ACA, PPACA or Obamacare? Confused? What is this all about? We've all heard the acronyms or terms. We may not know what each stands for, but it is something we all need to pay close attention to. The Affordable Care Act (ACA), Patient Protection Affordable Care Act (PPACA), or "Obamacare," is reshaping the benefits world. The law is so vast and has so many provisions written into it, and employers are struggling to stay on top. With more than 20,000 pages of regulations, it's no wonder this is happening. Implementing the provisions of the ACA is extremely complex compared to almost any other piece of legislation ever written before. The primary goal of the ACA is to reduce the number of uninsured Americans. Under the provisions of the law, any employer with 50 or more fulltime or full-time equivalent employees will have to choose between providing affordable health insurance coverage to qualifying employees or paying a penalty. All of the provisions of the ACA are to go into effect on Jan. 1. However, because of the vehement complaints from employer groups about the administrative burden of reporting requirements, as well as the confusion over the provisions of the law, the Obama Administration has postponed the Affordable Care Act employer mandate penalties for one year, until Jan. 1, 2015. The Department of the Treasury announced the delay on July 2, along with a similar delay for information reporting by employers, health insurance issuers and selffunded plan sponsors. Even though this news may cause you to breathe a sigh of relief, realize there are some provisions that have not been postponed – and are still scheduled to go into effect at the start of the 2014 plan year with penalties of up to $100/ person/day for non-compliance: » Waiting periods cannot be more than 90 days from the date the employee becomes eligible. » All pre-existing condition limitations must be removed. » Out-of-pocket maximum: Individual $6,350; family $12,700. » Essential health benefits may not have annual continued > w w w.in s i g h t o n m f g . c o m September 2013 • / insight on manufacturing | 17