- Top 5 Reasons to Love Health Savings Accounts (HSAs)
Although Virginia employees haven’t adopted HSA plans as quickly as some other areas of the country, these plans are gaining market share as healthcare costs continue to rise. There are […]
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- Small Businesses and Self-Funding Medical Benefits
ACA “Pooled” Rates vs. Self-Funded Strategies There is a lot of talk about self-funded or level-level funded medical plans as a way for companies to save money on health benefits… […]
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The Affordable Care Act (ACA) has made a number of significant changes to group health plans since the law was enacted over four years ago. Many of these key reforms became effective in 2014, including health plan design changes, increased wellness program incentives and reinsurance fees.
Additional reforms take effect in 2015 for employers sponsoring group health plans. In 2015, the most significant ACA development impacting employers is the shared responsibility penalty and related reporting requirements for applicable large employers.
This Legislative Brief provides a short checklist of the ACA’s key reforms that will take effect in 2015. As 2014 draws to a close, employers should review this checklist to help confirm they are ready to comply with the ACA’s 2015 reforms. Please contact Advanced Benefit Strategies if you would like more information about the ACA’s reforms.