As a benefits counselor, I am pleased to take this opportunity to provide a summary of the key components of health care reform and how it affects you and your business.
Let’s take a look at the changes from 2010 …
• First, if you are a small employer (with 10 or fewer full-time employees, the average annual payroll, 000 or less) you may qualify for the maximum credit of 35 % in 2010. Small employers with up to 25 full-time employees, the average annual payroll, 000 or less may still qualify for some of this
• Then, if a health plan provides coverage for dependent children of these plans must extend coverage to dependents up to age 26. Student status is no longer a requirement
• All new groups and individual plans must provide coverage for preventive services. These will be covered with no deductibles or copayments. This is due to begin in the fall.
• The health insurance companies are prohibited from placing lifetime caps on coverage. Insurance companies have restrictions on the use of annual limits on coverage in all new plans.
• If early retirement the government will provide money to help cover the employer’s health plans early retirees aged 55 to 64.
• If you have a pre-existing condition and have been uninsured for at least six months, you will be eligible to buy coverage through a temporary high-risk program, which limits what the cost will be charged out pocket.
• Finally, Medicare beneficiaries who fall into the gap in Medicare Part D (also known as the donut hole) will receive a refund check 0 sent directly to Medicare. And there is no application process necessary.
We are sure you will have questions about health care reform as we move forward. Be sure to check with JCLIS.COM for the latest information available. Thank you.