The goal of Hollis Companies is to keep you apprised of the provisions of PPACA that specifically affect your firm. In addition, we have created a timeline of events for each of our clients and their organizations so they can prepare accordingly.
President Barack Obama signed into law the Patient Protection and Affordable Care Act known as PPACA on March 23, 2010. This law was the most sweeping overhaul of the U.S. health care system since the Medicare program was enacted in 1965.
As we near closer to 2015 and the sweeping changes that are expected we pledge to keep the most current information available.
We are also providing the following updates that are posted as often as necessary to provide more information on PPACA and other health care reform issues.
July 2, 2013, President Obama’s administration has delayed the employer mandate requirement until 2015. More guidance to come from the Treasury Department and IRS in the coming weeks. July 3, 2014 Employer Mandate Delayed — Forbes.com
In May, 2013 the U.S. Department of Labor released a model notice for employers who offer a health plan to some or all employees. To access the notice, click the link below.
On Aug. 1, 2012, PPACA required new, non-grandfathered health plans to offer eight additional screenings and tests for adolescent and adult women at no extra charge or co-pay. These new benefits will occur effective at renewal for most plans. To read more, please go to http://www.healthcare.gov/blog/2012/07/prevention073112.html.
The United States Supreme Court, on June 28, 2012, upheld the Affordable Care Act as constitutional in its entirety. To read more, click here.
In late March, 2012 we are expecting the U.S. Supreme Court to hear arguments on several provisions of the Affordable Care Act. Most attention will center on the minimum coverage provision, the so called “individual mandate.” The Supreme Court announced it will allow 2 hours to hear arguments on this. This provision requires most people to have health coverage for themselves and their dependents starting in January 2014. In addition, they will hear three other issues for a total of 6 hours over three days, March 26-28. The other three are regarding the Anti-Injunction Act, Severability and Medicaid. We pledge to keep you informed of important developments; please contact us if you have any questions in the meantime.
Read below to learn what you need to know about the Small Business Health Care Tax Credit and how this could make a difference for your company. This credit can be taken for tax years 2010 through 2013 and then increase in January, 2014. To see further details, please go to http://www.irs.gov/newsroom/article/0,,id=223666,00.html.
On February 8, 2012 the U.S. Departments of Labor, Health and Human Services and Treasury issued guidance on the Summary of Benefits Coverage (SBC) and Uniform Rule implementing section 2715 of PPACA. To see further details, please go to https://www.federalregister.gov/articles/2012/02/14/2012-3230/summary-of-benefits-and-coverage-and-uniform-glossary-templates-instructions-and-related-materials.
W-2 Reporting Requirements – The attached chart (w2 reporting) was developed based on IRS Notice 2012-9, which, until further guidance, contains the requirements for tax-year 2012 and beyond. Items listed as “optional” are designated as such based on transition relief provided by Notice 2012-9, and their “optional” status may be changed by future guidance. However, any such change will not be applicable until the tax year beginning at least six months after the date of issuance of such guidance. This chart was created at the suggestion of and in collaboration with the IRS’ Information Reporting Program Advisory Committee (IRPAC). IRPAC’s members are representatives of industries responsible for providing information returns, such as Form W-2, to the IRS. IRPAC works with IRS to improve the information reporting process.
On December 16, 2011 the U.S. Department of Health and Human Services released a bulletin outlining proposed policies that will give states more flexibility and freedom to implement the Affordable Care Act with regards to the offering of a comprehensive package of items and services, known as “essential health benefits.” to see further details, please go to http://www.hhs.gov/news/press/2011pres/12/20111216b.html.
On November 17, 2011 the U.S. Department of Labor announced a delay in the effective date of the PPACA’s Summary of Benefits and Coverage and Uniform Glossary requirements. To read more, please go to http://newsmanager.commpartners.com/nahuw/issues/2011-11-21/1.html.
On November 14, 2011 the United States Supreme Court agreed to review President Barack Obama’s health-care overhaul. The case is expected to be heard in the Spring of 2012 with a ruling by the end of June. to see further details, please go to http://online.wsj.com/article/SB10001424052970204190504577037932371519676.html.
On October 14, 2011 the Associated Press reported that President Obama no longer plans on implementing the CLASS Long-Term Insurance plan. To see the full story please go to http://news.yahoo.com/obama-pulls-plug-part-health-overhaul-law-190228758.html.
In September, 2011 we hosted a follow up seminar on PPACA. We were honored to have Jim Donelon, Commissioner of Insurance for the State of Louisiana as a guest speaker. Also speaking was Ronnell Nolan who is a lobbyist for the National Health Underwriters Association. Also presenting was Dwayne Littauer from the Kullman Firm. To see a written script of his presentation please go to Health Care Reform Update.
On September 2, 2011 the Associated Press reported that Premium Increases Over 10% Will Be Reviewed Under PPACA. To see the full story please go to http://www.nytimes.com/aponline/2011/09/01/us/AP-US-Health-Insurers-Rate-Reviews.html?_r=1.
On August 19, 2011 HHS released the regulations regarding Summary of Coverage Uniform Explanation of Benefits. To see the full story please go to http://newsmanager.commpartners.com/nahuw/issues/2011-08-22/index.html. To see a sample template go to http://www.healthcare.gov/news/factsheets/labels08172011b.pdf.
On August 12, 2011 the United States Court of Appeals for the 11th Circuit in Atlanta ruled that the provision in President Obama’s health care law requiring Americans to buy health insurance or face tax penalties was ruled unconstitutional. To read more, go to http://www.nytimes.com/2011/08/13/us/13health.html?_r=1&ref=todayspaper.
In October, 2010 we hosted a one day seminar on the Affordable Care Act. We were honored to have Congressman Steve Scalise share his insight with our clients on the future of PPACA. To see the detailed participant manual from the seminar please go to Affordable Care Act Seminar Kullman Hollis.
For the full details on Health Care Reform please visit the official PPACA website, www.healthcare.gov.
Hollis Companies is also a member of the Louisiana Healthcare Education Coalition (LHEC), an organization founded to help consumers better understand the Patient Protection and Affordable Care Act (PPACA). As a civic organization committed to providing unbiased healthcare and wellness information, LHEC will educate on the major drivers of healthcare costs, the critical importance of personal wellness and the need for access to quality healthcare by working with healthcare providers, small businesses, faith-based institutions, employers, community leaders, patient advocacy groups and the public.
In March, 2011 the New Orleans ABC affiliate, WGNO 26, invited Michael Hollis and Sharon Hannahan to share their expertise on how Health Care Reform is currently impacting families.