The dictionary defines change as “to become different.” Anyone dealing with the Affordable Care Act (ACA) can tell you that if anything, it’s different. This law has created a lot of change for employers, including a new list of requirements for 2014. Here's a listof the top changes for employers in 2014. Are you ready?

1. List of Top 2014 Affordable Care Act
Changes for Employers
Wellness Incentives
(PY2014)
Updated rules on wellness incentives will take
effect. The Final Regulations created new
incentives to promote employer wellness
programs and encourage healthier workplaces.
There are two primary types of wellness
programs: Participatory wellness programs and
health-contingent wellness programs.
Annual Limits Prohibition
(PY2014)
This applies to
insured and
self-insured
health plans
to the extent
they offer the
10 categories of essential
health benefits.
Individual Mandate
(1/1/2014)
Taxpayers who do not
have minimum essential
coverage or qualify for
an exception will have
to make a shared
responsibility payment.
In 2014, the payment
equals the greater of
two amounts: The flat
dollar amount (in 2014,
$95 per individual,
$47.50 for individuals 18
or younger) or the
percentage of income
amount, determined by
first subtracting the
taxpayer’s exemption(s)
and standard
deductions from
household income and
multiplying that amount
by a percentage (in
2014, one percent)
Comprehensive Health Insurance
Coverage (PY2014, GF Exception)
The ACA
requires all plans
in the individual
and small group
markets to cover
the 10 categories
of essential health benefits, including
prescription drugs, pediatric dental
and vision care.
Health Insurance Marketplace
and Small Business Health
Options Program
(SHOP) (1/1/2014)
The Marketplace goes into effect
starting with the new year, although
enrollment will continue through the
end of March. Employers with fewer
than 50 employees can obtain
coverage through the SHOP. However,
HHS recently announced that online
SHOP enrollment would be delayed
until November 2014.
Nondiscrimination Based on
Health Status (1/1/2014)
The prohibition against health status
factor discrimination, applicable to small
and large market plans, will also apply
to individual plans.
Waiting Period Limitations
(PY2014)
A waiting period is the period of time that must pass
before an employee or dependent who is otherwise
eligible may enroll in a group health plan. Waiting
periods may not exceed 90 days.
PY2014 = Plan Year 2014 | GF Exception = Grandfathered Plan | 1/1/2014 = Effective date
To see the full list, click HERE
copyright 2014