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Affordable Care Act Here is useful information about the ACA, or ObamaCare. [more]

PPACA - Guidance for Employer Health Plans The Patient Protection and Affordable Care Act is a reformation of the nation's healthcare system. [more]

The Probability of Becoming Disabled According to the Council for Disability Awareness, disability happens more often than you think. These are the statistics: [more]

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Full Articles

 

  

PPACA - Guidance for Employer Health Plans 

 

The Patient Protection and Affordable Care Act is a reformation of the nation's healthcare system. It is designed to expand and make changes to the current system especially with respect to small businesses and individuals. In a broad sense, the new law sets minimum standards for health coverage and provides financial help to eligible businesses and individuals.

Parts of PPACA are now in effect and other parts will be phased in through 2014. It's important to know that provisions of this reform act are currently undergoing interpretation and could be subject to change in the future. In addition, there are possibilities of new rules and numerous court cases questioning the legality of PPACA that may produce additional changes.

Some of the main PPACA provisions are...

  • Mandated Insurance...in 2014, individuals will be required to maintain health insurance and certain employers will be required to provide employee coverage or pay a penalty.
  • No Lifetime Dollar Limit on Benefits
  • State-run Insurance Exchanges...for individuals and small groups.
  • Tax Credits to pay for insurance...applicable only to certain qualifying businesses.
  • Grandfathered Plans

Timeline for Implementation

2011

  • W-2 Reporting
  • HSA and FSA Limits
  • Increasing Reimbursement for Primary Care
  • Improving Preventative Health Coverage
  • Discounts to Medicare Part B "Donut Hole"
  • Pharmaceutical Manufacturer's Fee

2013

  • Increase Threshold for Itemizing Medical Expenses
  • Medical Device Excise Tax
  • Medicare Payroll Taxes

2014

  • Reforming Health Insurance Regulations
  • Eliminating Annual Limits
  • Establishing Health Insurance Exchanges
  • Multi-State Options
  • Tax Credits
  • Free Choice Vouchers
  • Individual Responsibility
  • Employer Responsibility
  • Increase Access to Medicaid
  • Health Insurer Provider Fee

The scope of PPACA is wide and can be rather confusing. Contact ASLR and we will be happy to discuss any of the issues with you.

NOTE: These materials have been prepared for informational purposes only. They are not intended to be nor do they constitute legal advice.

You should not act or rely upon this information without seeking professional council.

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The Probability of Becoming Disabled 

 

According to the Council for Disability Awareness, disability happens more often than you think. These are the statistics...

  • 1 in 4 of today's 20 year olds will become disabled before they retire.
  • Over 36 million Americans are now classified as disabled.
  • The average long-term disability lasts 2 1/2 years.
  • More than one in five workers will be disabled during their working careers.

HOW LONG CAN YOU GO WITHOUT A PAYCHECK?

  • 44% of U.S. families spend more that they earn.
  • 60% of adult Americans have no savings for emergencies.
  • 71% of Americans would be in financial difficulty in the first week of not receiving a paycheck.
  • 38% could not pay their bills for more than 3 months.

Most workers are not covered. According to statistics, 67% of workers in the private sector have no disability income insurance.

WHAT ABOUT SOCIAL SECURITY OR WORKERS COMPENSATION?

  • 65% of SSDI claims were denied in 2009 and the average claim paid is about $1,065.00 a month.
  • Since 90% of disabilities result from illness or off the job accidents, they do not qualify as a Workers' Compensation claim.

In summary, it's evident that a Group Disability Program is a valuable benefit to provide for your employees.

Contact ASLR and we will be happy to help you develop a program that fits your company's needs.