Impacts of Healthcare Reform and Other Topics

The Valley Schools Employee Benefits Trust (VSEBT) has an excellent program where it keeps its human resources and employee benefits members fully informed of all upcoming changes and trends in healthcare.  I found most interesting their update on some of the costs associated with implementing the new system.  You can find the agenda and some presentation items here:

Qtrly Benefits Meeting

Some highlights of upcoming changes:

ACA Reminders….
W-2’s issued by January 31 must include the value of benefits.

Summary of Benefit Coverages are required during OE.

Final decisions 1 month prior to start of OE.

Mental health parity exemption expires in the current PY.

Patient centered research institute (PCORI) fee of $1.00 per employee per year is effective January 1, 2014.

VSEBT members with a July 1 PY date will need to factor in to premiums in the upcoming 2013/14 renewals.

Transitional Reinsurance fee has been set at $5.25 per employee per month is effective January 1, 2014.

VSEBT members with a July 1 PY date will need to factor in to premiums in the upcoming 2013/14 renewals.

The patient centered research institute (PCORI) fee of $1.00 per employee and the Transitional Reinsurance fee of $5.25 per employee per month are changes I did not even know were inside the Affordable Coverage Act.  This will mean significant cost increases for employers.  Good job to VSEBT for the heads up!

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