In March 2010, Congress passed the Patient Protection and Affordable Care Act (ACA) and the Healthcare and Education Reconciliation Act (HERA), which have substantially affected how health benefits, will be provided and administered to employees. It is a comprehensive legislative overhaul with a very broad scope. Provisions included in the new legislation include those covering:
access to coverage
Medicare and Medicaid
disease prevention
insurance funding
the creation of health-benefit exchanges
new responsibilities for individuals, carriers and employers
new rules with respect to mandatory coverage
• new financing rules.
Although some changes were effective in 2011, most of the significant aspects of the legislation did not become effective until 2014. Throughout the past few years substantial guidance and new regulations have been published concerning the new healthcare reform legislation. The changes that became effective in September of 2010 include:
extension of coverage to adult children under 26 regardless of marital or student status
elimination of lifetime limits on coverage
insurers...
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