Health Care Reform 2.0 Part 1

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In this issue:

- Health Care Reform – Overview

- 2014 Federal Poverty Level Guidelines – 48 Contiguous States*

- Health Care Reform – Affected Benefits

- Health Care Reform – Excepted Benefits

- “Cadillac Tax”

- Exchanges

- Georgia Exchange Plans – Age 21

- Georgia Exchange Plans – Rating Area ID

- Georgia Exchange Plans – Age 40

- Georgia Exchange Plans – Age 60

- Exchange Subsidies for Individuals Under FPL

- Georgia Exchange Options – Family of 4*

- Employer Mandate

- Employer/Employee Relationship

- Penalties

- Minimum Essential Coverage

- Affordability

- Minimum Value

- Employer Mandate

- Calculating Full-Time Status

- Methods for Determining Full-Time Status

- Monthly Measurement Method

- Look-Back Method

- Existing Employee Standard Look-Back Period

- Existing Employee Look-Back Period

- Existing Employee Stability Period

- New Employees

- New Full-Time Employees

- New Part-Time, Seasonal or Variable Hour Employees

- New Full-Time Employees

- New Employee Stability Period

- New Employee Administrative and Stability Period

- Transition from New Employee to Existing Employee

- Rehired Employees/Employees Returning from Unpaid Leave

- Excerpt from: Health Care Reform – Overview

- Requires most U.S. citizens and legal residents to have health insurance or face penalties

- Creates state-based American Health Benefit Exchanges (“Exchanges”) through which individuals and small businesses (less than 50 full-time employees) can purchase coverage

- Individuals/families with income between 100% and 400% of the federal poverty level (“FPL”) are eligible for federal premium tax credits (“Subsidies”) for coverage purchased on an Exchange (unless they are eligible for Medicaid)

Please see full presentation below for more information.

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Topics:  Affordable Care Act, Cadillac Tax, Employee Benefits, Healthcare, Healthcare Reform

Published In: Health Updates, Labor & Employment Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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