Healthcare Reform Changes for September 23, 2010

HealthCare ReformThe passage of healthcare reform will bring some significant changes to employer sponsored health plans beginning September 23, 2o10.  Humana has put together a informational brochure outlining the healthcare reform changes.  Click the following for the brochure HealthCare Reform Changes for 9/23/10 by Humana.  A summary of the changes are below.

Grandfathered Plans

If you have an Employer sponsored health insurance plan in effect before the healthcare reform law was enacted on March 23, 2010, it’s generally considered a “grandfathered” plan and is exempt from some of the healthcare reform changes. To remain grandfathered, you cannot make benefit changesthat significantly increase your employees’ cost share for health coverage.

Dependent Coverage Changes

The federal healthcare reform law allows adult children to remain on their parents’ plan until they reach age 26. However, due to some state laws, parents can opt to carry their dependents beyond age 26.

Early Retiree Reinsurance Program

The regulations create a new $5 billion reinsurance program for employers that provide health insurance coverage to early retirees who are over age 55 but are not eligible for Medicare. This program began June 21, 2010, and continues until insurance exchanges become available on Jan. 1, 2014 or funding for the new program runs out.

Other Healthcare Reform Changes of Note
  • Pre-existing conditions to a covered person under age 19
  • Most preventitive Services will be covered at 100%
  • Unlimited lifetime maximum
  • No annual dollar limits on covered essential health benefits

For more information and clarification, please visit http://www.hhs.gov/

IMPORTANT: This document is designed to provide a general overview of the new health reform law. It does NOT attempt to cover all of the law’s provisions and should NOT be used as legal advice for implementation activities. We encourage you to seek any professional advice, including legal counsel, regarding how the new requirements will affect your specific plan.

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