Federal healthcare reform, also known as the Affordable Care Act (ACA), makes several changes to small group health plans.
Has your group been on the same health plan since March 23, 2010?
(Federal healthcare reform was enacted – NO Changes to plan or contribution)
Yes. Then your plan has been “grandfathered” in. You don’t have to do anything.
Your current plan will remain in place and continue to cover your employees as it does currently.
If you make any changes to the grandfathered plan then your plan will be discontinued and you will need to move to a new reform-mandated “metallic” plan.
What will these new plans look like?
Metallic levels. Federal healthcare reform categorizes plan levels into bronze, silver, gold and platinum. Platinum plans have the highest level of benefits and the highest cost.
More benefits and cost. New plans will likely have more benefits than the current plan you offer employees. If this is the case, you may see an increase in cost.
More wellness and discount opportunities. If your employees commit to certain activities related to wellness, you may see rate discounts.
If you would like to learn more about how we can help manage your employee health benefits program, give us a call at 206-985-2525 or request a quote.