Timeline

Health Care Reform

2012

w Plans must provide summary of benefits and coverage starting with the open enrollment period beginning on or after Sept. 23.

2013

• Improvements on electronic exchange of health information to reduce paperwork, administrative burdens and costs

• Annual health flexible saving account contributions limited to $2,500

• Medicare Part D subsidy deduction eliminated

• Income threshold for claiming itemized deduction for medical expenses increased

• Hospital insurance tax for high wage workers increased

• Medical device excise tax established

2014

• Individuals must obtain health insurance coverage or pay a penalty

• Employers with 50 or more employees must offer coverage to employees or face a penalty

• State health insurance exchanges to be established

• Health insurance companies will not be able to discriminate against individuals based on health status

• Individual health care tax credits available for certain individuals

• Second phase of small business tax credit

• Assessment of health insurance provider fee

• No limits on annual dollar value of benefits for any individual covered by group or individual health insurance

• Pre-existing condition health insurance exclusions eliminated for adults

Source: Bean Hamilton Corporate Benefits