3Q-2010

Demystifying Plan Documents and Health Care Reform: Effective dates for Plan changes that you need to know

By now, most organizations have faced the inevitable prospect of health care reform. While several provisions of the Patient Protection and Affordable Care Act (PPACA) do not take effect until future years, others become effective with the first plan year beginning on or after September 23, 2010. For calendar year plans, this means that important decisions regarding plan changes need to be made. Interim rules recently issued by the Departments of Health and Human Services, Labor, and Treasury provide the administrative steps a plan must take to maintain grandfather status.

In addition to communication requirements included in the Act, all ERISA plans must continue to comply with existing disclosure requirements. Additionally, plans will need to develop a new Uniform Summary of Benefits (USB) to be distributed to participants. Find out what you need to know and when you need to have them ready. Read full story