Employer's Guide to Healthcare Reform Law

            2014

In 2014, the most significant changes to the healthcare law will take effect.  Every individual will be mandated to have health insurance and employers with more than 50 employees who do not offer heath insurance will be penalized.  Each state will implement healthcare exchanges where individuals can buy health insurance as part of a larger group for cost savings.  Employees earning less than 400% of the federal poverty level will receive federal subsidies to purchase health insurance.

            2018

The last step to be implemented is the 40% tax on expensive healthcare plans, dubbed "Cadillac plans."  These high cost health plans are defined as having a value of $10,200 for a single employee or $27,500 for a family.  The law contains certain exclusions for high risk jobs and other special occupations.

Healthcare reform will have a far-reaching effect on companies in the United States.  Armed with the information necessary to make educated decisions, however, companies will be able to implement the requirements of reform in a timely, and efficient manner and make good strategic decisions on how their business goals fit within the new law.

David Barron and Daniel Schuch are attorneys at Epstein Becker Green Wickliff & Hall, P.C. (www.ebglaw.com) and represent management exclusively in labor and employment matters.