Affordable Care Act Timeline Updated

Use it along with the ACA FAQ to prepare for upcoming ACA requirements.

The Affordable Care Act (ACA) Timeline has been updated and is available online. Updates include:

• Removing the requirement to distribute the Health Insurance Marketplace Notice, or exchange notice, to all employees annually: This was a one-time requirement to be completed by October 1, 2013. For subsequent years, there’s no requirement to provide the notice to all employees; however, it should be provided to new hires within 14 days after their start date.

• Adding a reference to Internal Revenue Code (IRC) § 6055 and § 6056: These sections of the IRC subject plan sponsors and large employers, respectively, to reporting requirements for the employer shared responsibility (pay-or-play) penalty provision, which begins January 1, 2015. Further guidance on reporting requirements is expected.

• Adding the combined medical & prescription drug out-of-pocket maximum: Beginning January 1, 2015, out-of-pocket maximums will be combined into a single out-of-pocket maximum for medical and prescription drug plans. Out-of-pocket maximums for high-deductible health plans are already combined. NRECA is evaluating the impact to traditional medical and prescription drug plans.

ACA FAQ
For more information on how ACA provisions affect cooperatives, check out the ACA FAQ.

If you have questions, contact your field representative. You also can contact the Member Contact Center at 1.866.673.2299 orcontactcenter@nreca.coop.