PPACA – Part III: Other PPACA Changes and Timeline

On July 16th, HR Strategies began a quick three part blog series to take a hard look at the health reform in order to provide some clarity and guidance regarding PPACA’s impact on our clients and businesses everywhere.  This three part blog series offers analysis and interpretation on the important factors/elements of PPACA, including a timeline of applicable changes. 

Please note that many of the processes discussed in Part’s I & II, along with those mentioned below in Part III, will require further clarification and interpretation from agencies, such as the Department Of Labor, The IRS, and Health and Human Services.  Rest assured, HR Strategies will keep you both updated and in compliance every step of the way.

Change

Effective Date Employer Size

Comments

New Flexible Spending Account Limit

1/1/2013 for calendar year plans All Employers sponsoring FSAs

Employees may contribute up to $2,500.00 to their health FSAs.  In the case of both spouses working, the   limit is applied by employee, not to exceed $5,000 if filing jointly.

Reporting Cost of benefits on W-2s

Due 1/31/2013 for Tax Year 2012 Employers issuing 250 or more W-2s

Since HR Strategies clients receive their W-2 from us, cost of   benefits will be included in the 2012 W-2s.    The reported cost will include group health plan premiums (employer   and employee contributions) that are COBRA eligible.

Uniform Summary of Benefits and Coverage

Open Enrollment and  plan year effective date on or after 9/23/2012 All Employers with group health plans

HR Strategies is working with our carriers to develop these SBC.  If an employer is not part of the HR   Strategies Master Plan, it is imperative that the client coordinates with   their carrier and broker to ensure the SBC is prepared timely.

Auto-Enrollment

1/1/2014 or later (pending guidance) 200+ employees

Employers will be required to automatically enroll their employees   into the group health plan within 90 days of employment. Further guidance is   expected.

Non-Discrimination Testing TBA TBA

This requirement will probably meet the same guidelines of retirement   plan reporting via 5500 (100+ employees)

 HR Strategies hopes that this three part blog series on the Important Factors/Elements of PPACA, has provided you with some clarification. Please feel free to reach out to your HR Strategies representative, or our VP of HR & Client Services, MariaElena (M.E.) Ayala, with any questions or concerns at 770-339-0000.

Advertisements

Tags: , , , , , , , , , , , , , , , , , , ,

About HR Strategies

HR Strategies is a private human resource management firm created to enable small business owners to focus on their core competencies, rather than the tedium of running payroll, providing employee benefits, or the many other facets of human resource administration. We allow business owners to concentrate on their passion, without being distracted by countless human resource responsibilities.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: