Last week we informed you of the small business health care tax credit. We hope you had the opportunity to view the summary and the IRS’s FAQ information.
The requirements include:
- Prohibition on pre-existing-condition exclusions under 19
- No lifetime or annual benefit limits on “essential health benefits”
- Prohibition on rescissions
- No cost-sharing for certain preventive-services
- Extension of dependent coverage
- Extension of prohibition of discrimination in favor of highly compensated individuals to fully-insured plan
- Appeals process
To view the details of each of the above requirements, please see the prepared summary, Health Care Reform: Near-Term Changes.
Insurance companies are working diligently to implement these recent changes by the deadline, which is causing delays in policy changes as well as application processing. Before considering changing your health plan, be sure to contact our office to find out how it will personally affect you.