Affordable Care Act

 

ACA Timeline (summarized)

2010
– Dependent coverage up to age 26
– Lifetime dollar limits are prohibited
– Pre-existing conditions exclusions are eliminated for children under age 19
– Non grandfathered plans must cover certain preventive services
– Small business health care tax credit

 

2011
– Medical Loss Ration (MLR) rules apply to insurer premium spending
– Employee must report health coverage costs on Form W-2

 

2012
– Plans must provide SBCs during open enrollment
– Preventive care services for women are expanded
– PCORI fees begin

 

2013
– Improved HIPAA rules
– Employers required to distribute the “Exchange Notices”
– Medical devise tax

 

2014
– Individual mandate
– Health Insurance Exchanges are introduced
– Pre-existing conditions are prohibited on all individual plans
– Tax credits are available for individuals enrolling through healthcare.gov
– Employee waiting periods can not be longer than 90 days
– Small group and individual plans must provide plans that include Essential Health Benefits (EHBs)

 

2015
– Applicable large employers with 100 or more FTEs most offer affordable, minimum value coverage or pay a penalty
– Employer reporting, section 6055 and 6056 begin

 

2016
– Applicable large employers with 50-99 FTEs must now also offer affordable, minimum value coverage or pay a penalty

 

2020
– Cadillac tax implementation