A look at 5 years of the ACA
March 25, 2015 3:04 AM
5-year anniversary
This week marks the fifth anniversary of the Affordable Care Act. Heres a look at some of the highlights over the years and what can be expected in the future, as compiled by Patricia Moran, counsel in the employment, labor and benefits section of Boston law group Mintz Levin.
[Image: Fotolia]
[Image: Fotolia]
ACA signed into law
March 23, 2010
President Obama signs the ACA into law.
[Image: Fotolia]
President Obama signs the ACA into law.
[Image: Fotolia]
Insurance reforms take effect
Sept. 23, 2010
The first wave of insurance reforms including the age 26 mandate, prohibition on rescissions of coverage and the ban on lifetime annual limits take effect.
[Image: Fotolia]
The first wave of insurance reforms including the age 26 mandate, prohibition on rescissions of coverage and the ban on lifetime annual limits take effect.
[Image: Fotolia]
Supreme Court upholds the law
June 28, 2012
The Supreme Court ruled 5-4 to uphold the ACA in National Federation of Independent Business v. Sebelius a case that focused on a requirement for most Americans to get health coverage or pay a penalty. The individual mandate, as its referred to, went into effect Jan. 1, 2014.
[Image: Fotolia]
The Supreme Court ruled 5-4 to uphold the ACA in National Federation of Independent Business v. Sebelius a case that focused on a requirement for most Americans to get health coverage or pay a penalty. The individual mandate, as its referred to, went into effect Jan. 1, 2014.
[Image: Fotolia]
First PCORI fees due
July 31, 2013
A new annual fee, imposed on group health plans, is established to fund the Patient Centered Outcomes Research Institute. The fee is $1 times the average number of individuals covered under the plan for the first year, and then increases to $2 thereafter.
[Image: Fotolia]
A new annual fee, imposed on group health plans, is established to fund the Patient Centered Outcomes Research Institute. The fee is $1 times the average number of individuals covered under the plan for the first year, and then increases to $2 thereafter.
[Image: Fotolia]
Exchange notices required
Oct. 1, 2013
The ACA amends the Fair Labor Standards Act to require employers of all sizes to give their employees a notice of the availability of coverage via public exchanges.
[Image: Fotolia]
The ACA amends the Fair Labor Standards Act to require employers of all sizes to give their employees a notice of the availability of coverage via public exchanges.
[Image: Fotolia]
Prohibition of pre-existing conditions
Jan. 1, 2014
The ACA prohibits excluding coverage for individuals with pre-existing conditions. Grandfathered group plans must comply, however, grandfathered individual health insurance coverage is not required to comply.
[Image: Fotolia]
The ACA prohibits excluding coverage for individuals with pre-existing conditions. Grandfathered group plans must comply, however, grandfathered individual health insurance coverage is not required to comply.
[Image: Fotolia]
Pay or play takes effect
Jan. 1, 2015
The Employer Shared Responsibility provision which requires employers with 50 or more full-time employees to offer medical coverage or pay a penalty takes effect.
[Image: Fotolia]
The Employer Shared Responsibility provision which requires employers with 50 or more full-time employees to offer medical coverage or pay a penalty takes effect.
[Image: Fotolia]
Whats next?
June 2015
The Supreme Court is expected to rule on King v. Burwell, a case challenging the legality of tax credits allowed to purchase health insurance under the ACA.
2016
Effective for calendar year 2015, employers must file an annual return reporting whether and what health insurance was offered to their employees.
For self-insured employers, they must file an annual return reporting certain information for each employee they cover.
2018
The Cadillac tax takes effect. Employers will have to pay a 40% tax on high-end plans those exceeding $27,500 for a family or $10,200 for an individual.
[Image: Fotolia]
The Supreme Court is expected to rule on King v. Burwell, a case challenging the legality of tax credits allowed to purchase health insurance under the ACA.
2016
Effective for calendar year 2015, employers must file an annual return reporting whether and what health insurance was offered to their employees.
For self-insured employers, they must file an annual return reporting certain information for each employee they cover.
2018
The Cadillac tax takes effect. Employers will have to pay a 40% tax on high-end plans those exceeding $27,500 for a family or $10,200 for an individual.
[Image: Fotolia]
