Ins. Briefs (2011-13)

January 1, 2011 (Back to HRN 2011-13 Ins)

 

Insurance: Deadline for grandfathered plans to comply with information transparency requirements developed by the Secretary (not required to be released until March 23, 2012), which will allow consumers to compare a plan’s benefits, cost-sharing requirements and renewability and continuation of coverage provisions. (Sec. 1001 as amended by HR 4872 Sec. 10103) (Note: This provision applies for plan years beginning after the date of enactment. For most plans, this provision will be effective January 1, 2011.) 
 

Insurance: Deadline for insurance companies to begin annual reporting on the share of premium dollars spent on medical care and health care quality activities, and provide plan enrollees rebates if the percent of premiums spent on such activities is less than 85 percent (80 percent for insurers covering small businesses and individuals). (Sec. 1001 as amended by Sec. 10101)  

 

Insurance Taxes: Increases to 20 percent penalties for non-qualified withdrawals from Health Savings Account and Archer Medical Savings Account. (Sec. 9004) 

 

Insurance Taxes: Establishes tax credits for health insurance-related expenses of small businesses. Effective for tax years beginning after December 31, 2010. (Sec. 1421) 

 

  

March 23, 2011 (one year after date of enactment) (Back to HRN Ins 2011-13)

 

Insurance: Deadline for the Secretary to release standards for use by health plans to give enrollees a summary of the plan’s benefits (including an assessment of whether the plan provides benefits that meet the minimum essential coverage requirements established in the Act). Plans must use these standards when disclosing this information no later than one year after the standards’ release. (Sec. 1001)  

 

Insurance: Deadline for the Secretary to begin making grant awards (of an unspecified amount necessary to enable the Secretary to make awards) to States to plan and implement an Exchange. (Sec. 1311)

 
 

July 1, 2011(Back to HRN Ins 2011-13)

 

Insurance: Deadline for the Secretary to adopt standard operating rules to determine electronically eligibility for a health plan and health claim status transactions. (Sec. 1104)   
 
 

March 23, 2012 (24 months after enactment) (Back to HRN Ins 2011-13)

 

Insurance: Deadline for all health plans to provide applicants and enrollees information about the plans’ benefits and coverage. The information must be provided in a manner that meets standardized requirements developed by the Secretary. Willful failure to provide this information will result in a not-more-than $1,000 fine for each failure. (Sec. 1001)  

 

Insurance: Deadline for the Secretary to develop quality-measurement reporting requirements for insurance plans. Plans will have to report annually to the Secretary and to enrollees on whether the plan’s benefits improve health outcomes; reduce hospital readmissions; improve patient safety and reduce medical errors; and implement wellness and health promotion requirements. (Sec. 1001) 

 

July 1, 2012 (Back to HRN Ins 2011-13)

 

Insurance: Deadline for the Secretary to set a Federal standard to guide how the Exchanges’ initial enrollment process will work, as part of the preparation effort to establish the Exchanges by 2014. (Sec. 1311)  

 
Insurance: Deadline for the Secretary to adopt operating rules to govern insurance companies’ electronic funds transfers and health care payment and remittance advice transactions (companies must follow these rules starting January 1, 2014). (Sec. 1104)   
 
 
January 1, 2013 (Back to HRN Ins 2011-13)   
 
Insurance: Deadline for each State to meet the Secretary’s determination that the State is making sufficient progress toward the requirement established by this Act that each State create an Exchange by 2014. If the State chooses not to establish an Exchange or is not making sufficient progress, then HHS would begin to plan to establish a federally operated Exchange in the State. (Sec. 1322) 
 

Insurance: Deadline for insurance companies to comply with HHS-established standard rules to determine electronically whether someone is eligible for a health plan and health benefit.

(Sec. 1104)  

 

Insurance & Taxes: Start date of new $2,500 cap on the amount of money American taxpayers can contribute tax-free annually to a Flexible Savings Account. The Joint Committee on Taxation estimates that this provision will cost Americans an additional $13 billion in taxes over 10 years. Effective for tax years beginning after December 12, 2012. (HR 4872 Sec. 1403)  

 

 

March 1, 2013 (Back to HRN Ins 2011-13)

 

Insurance: Deadline for employers to notify employees that Exchanges will soon be established and that employees may be eligible for Federal subsidies if they purchase insurance through the Exchange. (Sec. 1512)  
 
 

July 1, 2013 (Back to HRN Ins 2011-13)

 

Insurance: Deadline for HHS to issue regulations to govern State efforts to create Health Care Choice Compacts whereby two or more States may agree to allow health insurers to sell products across State lines. Such compacts may not take effect prior to January 1, 2016. (Sec. 1333)  
 

Insurance: Deadline for HHS to award startup loans and grants to organizations that want to offer CO-OPs – nonprofit, member-owned health benefit plans. (Sec. 1322)  

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