The topic on everyone’s mind these days is Health Care Reform and what you will need to do to remain in compliance. A recent study conducted by Market Strategies International showed that, perhaps awaiting the Supreme Court ruling and perhaps in anticipation of the presidential election, most employers have taken no active steps to prepare.
While this may well be true, you can rest assured that BMC has been working with the major carriers that provide your health care benefits to meet the timelines for all compliance. Since its inception in 2010, we’ve been adhering to the timelines as they come due. This includes the amendment of contracts to include preventive services paid at 100%, additional preventive services, dependent coverage to age 26, and the most recent addition, distribution of Summary of Benefits and Coverage (SBCs). Several of the large carriers are already setting up their version of “exchanges”, whereby an employer can establish a defined contribution that they will make to the premium and each employee can select the level of coverage that’s right for them from a menu of between 12 and 30 plans.
While you’re busy overseeing the daily operation of your business or school, rest assured that BMC Benefit Services is going to make the appropriate recommendations to keep you in compliance with Health Care Reform!
Retroactive Terminations
One Health Care Reform-related reminder: Under the PPACA (Patient Protection and Affordable Care Act), the insurance carriers are enforcing the retroactive termination policy: Retroactive terminations may be made for up to 30 days plus the current month. This means that a termination cannot be made for more than 60 days prior to the date of notification. Further, if your employee makes a contribution toward the premium, coverage cannot be terminated retroactively. We remind you to be diligent in the notification of terminations. The carriers have publicized that they will NOT make any exceptions so no additional premium credits will be retroactively provided. If you have any questions about Health Care Reform or any other benefit-related matter, please let us know.