Alternative Benefit Funding is the solution to meet the demands of many Health Care Reform requirements the government has mandated. Below are some of the ACA mandates. The list is not all-inclusive nor provides full details. Please contact our office for further information on the below and other ACA mandates.
- Maximum Out of Pocket Limits.
- ACA’s limits for maximum out of pocket for the 2017 plan year is $7,150 for self-only coverage and $14,300 for family coverage.
- High deductible health plan (HDHP) that is compatible with a health savings account (HSA), keep in mind the plan’s out-of-pocket maximum must be lower than the ACA’s limit. For 2017, the out-of-pocket maximum limit for HDHPs is $6,550 for self-only coverage and $13,100 for family coverage.
- Summary of Benefits and Coverage. Health plans and issuers must provide an SBC to participants and beneficiaries – the DOL, HHS and Treasure departments issued a new template for April 1, 2017.
- $2,550 Limit on Health FSA Contributions. Salary reduction contributions to health FSAs are increased to $2,550 per year for taxable years beginning 2015.
- Medicare Part D eligible individuals who are covered by, or who apply for, prescription drug coverage under the health plan must receive notice of creditable or non-creditable coverage before October 15th.