Reform Timeline/Compliance
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.