With the implementation of the new health insurance exchanges under the Affordable Care Act (ACA) just months away, employers and employees are gearing up for big changes in the health insurance market. Your employees will have more options under the new law, and they probably have a lot of unanswered questions.
The COBRA Blog
Effective in 2014, the new health care reform law will implement an individual health insurance mandate, requiring most Americans to carry health insurance. Once the mandate goes into effect, most Americans will be required to purchase health insurance or face paying a fine.
While the Patient Protection and Affordable Care Act (PPACA) continues to be an unsolved puzzle for employers and insurance providers, the law is moving forward and the pieces are slowly beginning to come together.
With the November elections behind us, the way has been paved for the Patient Protection and Affordable Care Act (PPACA) to be fully implemented. For states and federal agencies, that means they have only 11 more months to prepare for millions of uninsured people to start signing up for coverage under the new healthcare exchanges, with open enrollment scheduled to begin October 1, 2013. Coverage under the new exchanges will be effective January 1, 2014, and the Congressional Budget Office (CBO) estimates that 22 million people will buy coverage through the public exchange system by 2016.
According to a workplace survey by HR consultant Mercer released last year, employer provided benefits are increasingly vital to the employer-employee relationship. For 91 percent of those employees, having benefits through their employer is just as important as being paid a salary.
Many of you already know that The Patient Protection and Affordable Care Act (PPACA) Medical Loss Ratio Rule may result in health insurance premium rebates in the coming months. In fact, insurers are required to send rebates relating to 2011 premiums to employers by August 1, 2012. What you may NOT know is how you are going to distribute a portion of these rebates back to current employees, past employees, and COBRA participants. The 2011 rebates will start arriving this summer. The question is, are you ready for them?
One of the most significant aspects of the new healthcare reform law is the creation of health insurance exchanges. And yet with all of the confusion surrounding the new law, this provision could easily be the one your employees and/or clients know the least about.
With all of the provisions of healthcare reform legislation going into effect, you no doubt have plenty of questions you need answered so you can understand the new law and make sure you’re in compliance. One great resource for up to date information on HR issues, and answers to your most pressing questions is the Department of Labor’s Employee Benefits Security Administration website. With regular updates, they can help you stay on top of the latest changes.
Instant messaging, also known as IM, has become prevalent at work, and is fast becoming a management and HR issue. In fact, a report issued by Radicati.com, states that in 2011 there were nearly 2.6 billion IM accounts worldwide and that number is expected to grow to over 3.8 billion by the end of 2015. According to Radicati, that’s a growth rate of 11% per year. IM isn’t necessarily bad or disruptive for businesses IF it’s used correctly and for the right purposes.