Wednesday, October 16, 2013

Affordable Care Act

There will be some serious rules changes Jan. 1st, 2014 for businesses providing Health Reimbursement accounts and premium only plans. I am not going to go into great detail here and suggest you contact your accountant but if you have a standalone HRA  you need to amend your plan. This means if you are not providing a group policy that meets the ACA requirements you could be jeopardizing your employees ability to get subsidized medical coverage under the Affordable Care Act.

Also if you have a premium only plan your employees will not be able to put money into the plan for purchase of health insurance on  a pretax basis. These are major changes prior to ACA implementation.

Do you have an HRA plan where you are not providing health insurance for your employees or a premium only plan where your employees are buying individual insurance?


Scott Hauge
Small Business California
2311 Taraval Street
San Francisco, CA  94116

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