Zane Benefits Publishes Outline of Key ACA Provisions Taking Effect in 2012, 2013 and 2014
The following provisions of the Affordable Care Act will take place over the next three years.
(PRWEB) July 10, 2012
Zane Benefits, leader and creator of the online benefits software which helps businesses provide comprehensive and flexible alternatives to traditional health benefits, today published a summary of key ACA provisions.
In March 2010, Congress passed the Patient Protection and Affordable Care Act (ACA). In June 2012, ACA was upheld in the Supreme Court. The ACA is a piece of legislation with many provisions phasing from 2012 to 2014. For those interested in the timeline of ACA, Zane Benefits has provided a brief outline of the key provisions taking effect over the next 3 years.
KEY PROVISIONS OF THE AFFORDABLE CARE ACT THAT TAKE EFFECT IN 2012
- Medicare hospital value-based purchasing program
- Increase in physician quality reporting requirements in Medicare
- Additional Medicare pilot programs on alternative payment methodologies, e.g., accountable care organizations
- Increased requirements for hospitals to maintain not-for-profit status
- Fees from insured (including self-insured) plans transferred to the Patient-Centered Outcomes Research Trust Fund
KEY PROVISIONS OF THE AFFORDABLE CARE ACT THAT TAKE EFFECT IN 2013
- Increase Medicare payroll tax by 0.9% on high-income earners
- Impose a 3.8% tax on net investment income of high-income individuals
- $500,000 cap on health insurers’ deduction for executive compensation
- Eliminate employer deduction for Medicare Part D subsidy
- FSA limitations
- Excise tax on medical device manufacturers and importers
- Medical expense deduction floor increases to 10%
- Nationwide bundled payment pilot begins in Medicare
- Increased Medicaid reimbursement for primary care
- Medicare physician comparison data available to the public
- Reductions in Medicare payments for select hospital readmissions
- Expanded coverage of preventive services by Medicaid
KEY PROVISIONS OF THE AFFORDABLE CARE ACT THAT TAKE EFFECT IN 2014
- Employer mandate and individual mandate
- Employer and insurer reporting requirements
- New health insurance market reforms take effect
- State health insurance Exchanges established
- Premium tax credits and cost-sharing subsidies available to certain individuals in Exchange insurance products
- Medicaid expansion to new populations (100% federal match to states for newly-eligible populations through 2016)
- Annual fee on health insurers
- Medicare/Medicaid DSH payment cuts begin
- Independent Payment Advisory Board (IPAB) issues first report to Congress if Medicare spending exceeds growth target
About Zane Benefits, Inc.
Zane Benefits, Inc, a software company, helps insurance brokers, accountants, and employers take advantage of new defined contribution
health benefits and private exchanges via its proprietary SaaS online health benefits software. Zane Benefits does not sell insurance. Using Zane’s platform, insurance professionals and accountants offer their clients a defined contribution plan with multiple individual health insurance options via a private health exchange of their choice.