Health Care Reform Timeline – What It Means for Employers
Please check under News & Events for all of our most recent Health Care Reform updates.
Click here to download a printable handout version of our timeline.
2010
- All insurance carriers must cover young adults until the end of the year in which they turn 26 for renewals after 9/23/10
- Insurers cannot impose pre-existing conditions for children
- High risk pools will be established by the Federal Government
- Early retiree subsidy program begins in earnest
- Medicare Part D beneficiaries will receive a $250 rebate when entering the coverage gap (“donut hole”)
- Small employer tax credit for those employers with less than 25 full time equivalent employees whose annual wage is less than $50,000
- New website launched for future insurance exchange: www.HealthCare.gov
2011
- Grants for wellness programs
- Employees automatically enrolled in Community Living Assistance Services and Supports (CLASS) long-term care program, unless they opt out
- Insurers must spend at least 80% of premiums on medical services – new MLR
- OTC drugs no longer eligible expenses for FSAs, HRAs, or HSAs
- All health plans will have unlimited lifetime maximum benefits
- Essential benefits such as physical, speech, occupational therapy, chiropractic services will have no annual limits
- No referrals to see an OBGYN regardless of the type of health insurance
- Preventive care services paid at 100% with no co-pays or deductibles
- Medicare Part D enrollees get 50% discount on prescription drugs when in the coverage gap (“donut hole”)
2012 – 2013
- Medicare payroll taxes rise to 2.35% for those earning $200,000 ($250,000 for families)
- Limits Flexible Spending Account (FSA) contributions to $2,500 per year
2014
- State based exchange program implemented to compete with private health insurance industry
- Insurers cannot refuse to sell or renew policies, deny coverage for pre-existing conditions
- Individual mandate requires all Americans to by coverage or pay a fine of $95. Penalties increase each year
- Prohibition on deductibles over $2,000
- New taxes built into premium costs
2018
- High-cost insurance tax – 40% on Single coverage over $10,200 and family coverage over $27,500
2020
- Prescription drug coverage gap (“donut hole”) eliminated for Medicare beneficiaries
