As 2014 rapidly approaches, employers are preparing for the next round of Affordable Care Act-mandated plan changes and some are beginning to think outside of the box.
Beginning next year, a group health plan will no longer be permitted to impose a pre-existing condition limitation, eligibility waiting periods will be restricted and all plans will be required to limit cost-sharing and out-of-pocket expenses. Wellness program incentives will be increased, with rewards allowed up to 30% of plan costs, and a plan can provide an incentive up to 50% of premium costs for programs designed to reduce or prevent tobacco use. All plans will be assessed a fee to fund a reinsurance program designed to stabilize the individual insurance market.
