Health Care Reform Update: W-2 Reporting, Grandfather Status, Claim Appeals and Review Procedures, and More

On October 12, 2010, the IRS announced that they have issued a draft W-2 for employers to use in reporting health insurance premiums under the requirements of the Affordable Care Act.  They also announced that this reporting will be optional for 2011 to give employers and payroll providers more time to modify their systems to comply with the provisions.  Reporting the cost of coverage under employer-sponsored group health plans will be required for 2012 with costs reported in 2013.  The IRS stressed that these amounts are not taxable and that additional guidance will be released later this year.  Following is a link to the IRS press release.  http://www.irs.gov/newsroom/article/0,,id=228881,00.html

Additionally, the Departments of Health and Human Services, Labor, and Treasury jointly issued guidance on the implementation of the Affordable Care Act related to Grandfathered Health Plans, Claims Appeals and Review Procedures, Dependent Coverage of Children, and Highly Compensated Individuals among other topics.  This guidance is in the form of three FAQ documents.  Following is a link to the EBSA website http://www.dol.gov/ebsa/.  You can locate these FAQs on the home page under the heading 'New and Noteworthy'.   

Please contact your HORAN representative for additional information.