Health Care Reform: Regulations Issued on Grandfathered Plans
The health care reform law passed earlier this year brings many changes to employers and health plans. The extent of the impact will depend, in part, on whether you maintained a health care plan on March 23, 2010, the date the primary legislation was enacted. If your company sponsored a plan on that date, it is considered a “grandfathered” plan. Grandfathered plans are exempt from certain health care reform requirements, such as no cost-sharing for preventive care and other patient protections.
On June 14, 2010, the Departments of Health and Human Services (HHS), Labor and Treasury issued regulations regarding grandfathered plans. Importantly, it clarifies what types of changes can be made to existing plans that will allow them to retain their “grandfathered” status.
This Herbruck Alder Legislative Brief summarizes the new regulations as follows.
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Children's Health: Vision Care
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Fight Cancer with Food
A healthy lifestyle is instrumental in disease prevention, and a diet rich in certain foods can really go the extra mile. In fact, there are several foods that are extremely beneficial in the fight against cancer.
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Congress Passes Landmark Health Care Reform Bill
On March 21, 2010, the U.S. House of Representatives passed major health care reform legislation, the Patient Protection and Affordable Care Act. The legislation was previously passed by the U.S. Senate in December 2009 and was signed by President Obama on March 23, 2010.
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H.B. 1 Health Care Reform and …What it means and when is it effective?
Attached is a document directly from the Ohio Department of Insurance that fully explain H.B. 1 Health Care Reform and what it means to employers and to consumers. It includes FAQ sheets that are extremely helpful.
Pages 1-8 Describe Cost to Businesses
Pages 9-16 Describe Impact on Ohio Insurance Consumers
Most of the effective dates are not immediate and some requirements are phased in over time dependent upon the size of your group.
Please call Herbruck Alder at 216-623-2600 with any questions.
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Health Insurance from New Grads
Do you know a student or new grad who needs coverage “just in case?”
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Prescription Fitness Offer
Based on your affiliation with Herbruck Alder, you will receieve 20-25% discount on corporate and personal Prescription Fitness services.
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Great Reasons to Participate in your 401(k) Plan
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Michelle's Law Provides Continued Medical Coverage For Students
Michelle's Law amends the Employee Retirement Income Security Act (ERISA) to allow seriously ill or injured college students to take up to one year of medical leave without losing their health insurance. Michelle's Law applies to all group sizes.
The new federal coverage mandate applies to health plans governed by ERISA, the PHSA and the IRC, and is effective for plan years beginning on or after October 9, 2009. Calendar year plans must comply beginning January 1, 2010.
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Health Care Reform Timeline
This Legislative Brief provides a timeline of the implementation of key reform provisions that affect employers and individuals. Please read below for more information and contact Herbruck Alder with any questions about how you can prepare for health care reform.
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Small Businesses Eligible for Health Care Tax Credit
Under the recently enacted health care reform law, many small businesses and tax-exempt organizations that provide health insurance coverage to their employees now qualify for a special tax credit.
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Small Business Health Care Tax Credit: Steps to Determine Eligibility
Determine if you may qualify for the Small Business Health Care Tax Credit by following three simple steps from the IRS.
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CHIPRA Changes
The Children's Health Insurance Program (CHIP) started during the Clinton administration in 1997 and would have terminated 9/30/07. It was extended to 3/31/09 under President Bush. President Obama signed a reauthorization act (CHIPRA) on 2/4/09 to extend CHIP to 9/30/2013.
Click below to read more.
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Retirement Plan Information
This Crisis is Not on Par with 1929
Chief Investment Strategist Corner, September 24, 2008. By: James Swanson, CFA
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Strike, While the Iron is Hot
Wellness is sizzling. The workplace is where it's heating up.
The burden of health care costs has already reached a critical point for many companies. Some have estimated that at least 25 percent of the total cost burden is associated with unhealthy lifestyles...
Aldana, S. (2007). Strike While the Iron is Hot. Realize, Issue 1, 10.
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Model Notice of Creditable Coverage Medicare Part D
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Model Notice of Non-Creditable Coverage Medicare Part D
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