Park City, Utah (PRWEB) March 07, 2013
Today, Zane Benefits, Inc. published new information on health care reform provisions. Zane Benefits, which provides comprehensive and flexible alternatives to traditional employer sponsored health benefits, is the leader in defined contribution and health reimbursement arrangements.
According to Zane Benefits’ website, businesses, large and small, have many questions regarding the Affordable Care Act (ACA) and provides an overview of the major provisions impacting the following groups: Employers, Individuals, Medicare, Medicaid and Taxes.
1. Major Health Care Reform Provisions Impacting Employers
According to Zane Benefits’ website, the major health care reform provisions impacting employers are:
- Required to provide "affordable" and "qualified" coverage or else pay tax penalties (firms with less than 50 full-time equivalent employees are not subject this requirement)
- New small business tax credit to purchase coverage
- New insurance exchanges for small-group and individual markets
- Limits on underwriting
- Elimination of tax deduction for retiree drug subsidies to employers
- Restrictions on Flexible Spending Account (FSA) salary deferral contributions
2. Major Health Care Reform Provisions Impacting Individuals
According to Zane Benefits’ website, the major health care reform provisions impacting individuals are:
- Required to purchase minimum essential coverage or else pay tax penalties
- New mandated benefits in individual market
- Tax subsidies to purchase individual health insurance coverage in an exchange
- Limits on cost sharing
- Limits on underwriting
- Increase in floor for itemized medical deduction from 7.5% to 10%
- Restrictions on use of HSAs, FSAs, HRAs for over the counter drugs
3. Major Health Care Reform Provisions Impacting Medicare
According to Zane Benefits’ website, the major health care reform provisions impacting Medicare are:
- Part D coverage gap closed over time
- Payment reductions to hospitals, physicians, etc.
- Payment reductions to Medicare Advantage plans
- Does not address physician payment issue
- New rebates on drugs
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.