|Notice of Exchanges
||Due to all employees (full-time, part-time and seasonal) no later than October 1st, 2013 (PDF)
|Summary of Benefits and Coverage (SBC)
||Due the first open enrollment period beginning on or after 9/23/2012.
|60 Day Notice of Plan Changes
||Effective after SBC effective date for your company
|FSA contribution limit set to $2,500
|| For plan years starting on or after January 1st, 2013
|Excessive Waiting Periods
||Maximum 90 day waiting period limits – effective for plan years on or after January 2014
|Pre-existing Condition Exclusions
||Are no longer allowed –this is effective with plan years on or after January 1st, 2014
|Additional Medicare Tax
||Effective for wages over $200,000 for individuals – began on January 1st, 2013
|Form W-2 reporting
||Only required for employers filing more than 250 W-2’s in the prior calendar year – may be a requirement for all employers in future years.
Please contact Burchfield Insurance for any questions or more information concerning these Health Care Reform mandates.