Employers, Do You Know What You Need To Do Before January 2014 To Comply With PPACA?

The provisions associated with health care reform pose many questions for employers, most importantly, what do I need to do and when?  Here is a checklist of items to cross off your list before January 2014:

• Calculate and pay the Patient Centered Outcome Fee if the plan is self-funded (insurers are responsible for calculating and paying the fee for insured plans, but will likely pass the cost on)

•    Expand the definition of first-dollar preventive care to include a number of women’s services, including contraception

•  Reduce the maximum employee contribution to $2,500, if the employer sponsors a health flexible spending account (FSA)

•  Withhold and extra 0.9% FICA on those earnings more than $200,000

•  Provide information on the cost of coverage on each employee’s W-2, if the employer issued more than 250 W-2s in 2011

•  Provide a notice about the upcoming exchanges to all eligible employees