On March 23, 2010, President Obama signed into law the health care reform bill, the Patient Protection and Affordable Care Act. This legislation, along with the Health Care and Education Reconciliation Act of 2010, makes sweeping changes to the U.S. health care system. These changes will be implemented over the next several years.
Higginbotham is committed to providing frequent updates on health care reform activity so you can plan accordingly and remain in compliance. Check back here often for the most recent legislative changes.
Leading News
The health care reform law requires plans and issuers to distribute a summary of benefits and coverage, or SBC, to participants and beneficiaries. The SBC is intended to be a short, easy-to-read document that helps participants better understand the terms of their existing coverage and makes it easier for individuals shopping for new coverage to make comparisons between plans. The SBC requirement applies to both grandfathered and non-grandfathered plans.
On February 9, 2012, federal agencies in charge of implementing the health care reform law released final guidance on the SBC requirement. This final guidance includes rules for preparing and providing the SBC, an SBC template and a uniform glossary.
Please reference the legislative brief available below for more information.
Resources
Health Care Reform Timeline—A detailed summary of requirements from 2010 through 2018.
Health Care Reform Timeline—A snapshot of requirements from 2010 through 2018.
Recent Health Care Reform Activity
February 9, 2012—Summary of Benefits and Coverage
December 2, 2011—Final Regulations Issued on Medical Loss Ratio
November 14, 2011—IRS Q&A on Form W-2 Reporting
July 8, 2011—Interim Final Rule on Administrative Simplification
June 24, 2011—DOL Amends Interim Final Rule on Appeals Process
June 17, 2011—Waiver Program for Annual Limits Will Close to Applications
March 23, 2012—Health Plan Summary of Benefits and Coverage
