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Health Care and Education Affordability Reconciliation Act of 2010

Changes Effective in 2010

  • A ban on lifetime benefit limits

  • A $250 rebate for Medicare Part D “donut hole” recipients

  • Tax credits of 35% of health insurance premiums to very small businesses

  • All new group and individual health plans must provide first dollar coverage for preventive services

  • Temporary reinsurance program (to offset costs) to companies who provide

    early (age 55-64) retiree health benefits

  • A new private, non-profit institute to identify priorities and research effectiveness

    of health treatments and strategies

  • June 30: a temporary insurance program for workers over 55

  • June 30: a temporary high risk pool for those with preexisting conditions

  • July 1: 10 % tax on revenue for indoor tanning services

  • Sept 23: children up to 26 years of age required to be covered on parents’ policies

  • Low-interest student loan programs, scholarships, and loan repayments for health

    students and professional expanded and improved

Health Care and Education Affordability Reconciliation Act of 2010

Changes Effective in 2011

  • W-2 forms will list the value of health benefits

  • 50% discount on brand-name drugs while in the “donut hole”

  • Free annual wellness visits under Medicare

  • 10% Medicare bonus payments to primary care physicians and general surgeons

  • Medicare Advantage payment benchmarks frozen at 2010 levels with future annual reductions

  • No co-pay for preventive services under new health plans

  • Flexible spending accounts (FSA) health reimbursement arrangements (HRA) and health savings accounts (HSA) can no longer pay for over the counter meds with penalties doubling to 20%

  • New SIMPLE Cafeteria Plan to provide tax-free benefits to small business employees

  • New reporting requirements for small businesses

  • Chain restaurants and vending machines must disclose nutritional info

 

 


   
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97 South Brentwood Street
Lakewood, Colorado 80226
phone:303-861-5290
fax:303-462-1695
sallyjo@buttonfinancial.net
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Untitled Page “We will set you on the road toward financial planning success, and if invited, will walk with you along the way.”
- Sally Jo Button


97 South Brentwood Street, Lakewood, Colorado 80226, phone:303-861-5290, fax:303-462-1695, sallyjo@buttonfinancial.net