Health Care Reform Timeline

Health Care Reform Timeline

Patient Protection & Affordable Care Act (PPACA)

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 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

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 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

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