The Affordable Care Act (ACA) has kept employers busy since its inception with changes to the health care industry. Many employers are struggling to keep up with the changes taking place year after year, resulting in administrative difficulties and penalties incurred. Certain changes to some ACA requirements begin to take effect in 2017 for employers sponsoring group health plans, such as increased dollar limits and maximum penalties for ACA reporting violations. So what should employers be on the lookout for in 2017?
Corporate wellness programs have taken off in recent years. Employers are realizing the benefits of implementing wellness challenges and initiatives for employees to participate in and experiencing healthier employees (less doctor’s visits and sick days!). These programs are great, but it is important to be sure they are in compliance with EEOC’s final Americans and Disabilities Act.
The compliance guidelines are ever-changing, so it is important to check your strategy and reporting to comply with any changes. Check whether the medical options meet minimum value, minimum essential coverage, and affordability standards. Some highlights for changes in 2017 include:
- Cost-sharing limits
- Coverage affordability percentages
- Maximum penalties for ACA reporting violations
Make sure your health plans comply with the final ACA rules on cost-free preventive. Preventive services like screenings or vaccinations are covered at no charge to employees under Obamacare, and other services like certain prescriptions or contraceptives should be reviewed in your plan for 2017.
A full Compliance Checklist for 2017 can be reviewed below, including expected changes for 2017 so you can come up with a compliance strategy that meets all the requirements. Our benefits experts would be glad to assist you, feel free to Contact Us!