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Healthcare Reform
President Obama signed the Patient Protection and Affordable Care Act on Tuesday, March 23, 2010. This Act will have a large impact on healthcare for consumers, employers, brokers, and insurers. To keep you informed, Blue Cross & Blue Shield of Rhode Island (BCBSRI) has developed a series of fact sheets that cover components of the Act. These fact sheets will help you better understand how the Act will impact you and your business, and will be posted to this page when they are available. Please check back often.
The following fact sheets are in PDF:
Appeals - Coming soon!
Community Living Assistance Services & Supports Act
Dependents to Age 26
Employer Mandate
Grandfathering
Healthcare Reform Summaries
High Risk Pool
Individual Mandate & Subsidy
Insurer Taxes
Lifetime & Annual Limits
Medicare Advantage and Part D Provisions
New Insurers
Preventive Care
Product Design Mandates
Small Group Tax Credit
Summary of Employer Taxation Provisions
Summary of Provisions on Exchanges
Summary of Rating Reforms
Timeline
Uniform Coverage
Wellness Programs
Early Retiree Reinsurance Program
Under the Patient Protection and Affordable Care Act, the Early Retiree Reinsurance program provides $5 billion to plan sponsors based on the claims expenses of covered early retirees. Plans are eligible to be reimbursed 80% of claims between $15,000 and $90,000 incurred by the early retiree, his/her spouse, or his/her dependents.Groups must submit an application to the U.S. Department of Health and Human Services (HHS). To assist you in applying for the program and the federal funds, BCBSRI is providing you with the necessary resources.
Mental Health Parity
The Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008 (the “Act”) establishes parity between medical and surgical benefits and benefits relating to mental health and/or substance use disorders.
Below is a fact sheet which provides greater detail on this Act:
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Want to learn more about how healthcare reform will impact your business?
If you’re looking for answers about healthcare reform, you’ll probably notice there are a lot of different sources for information. How do you know who to turn to for trusted information about healthcare reform legislation? We want you to know there is a resource available to help answer these questions from a trusted source that is personalized for your situation. It’s from Blue Cross and Blue Shield of Rhode Island and it’s called AskBlue Healthcare Reform, an easy-to-use, interactive and confidential Web experience that leads you right to the information you’re looking for.
Small Business Tax Credit Calculator
The Affordable Care Act provides a federal tax credit to eligible small businesses to help offset the costs of health insurance offered to employees. The tax credit, available for the 2010 tax year, could be worth up to 35 percent of your paid health insurance premiums. In 2014 and beyond, the tax credit could be worth up to 50 percent of your paid health insurance premium.
Your business may qualify if you:
- Employ fewer than 25 full-time equivalent employees;
- Pay average annual wages less than $50,000; and
- Pay at least half of the total premium rate for your employees' insurance.
Find out if your business is eligible for the healthcare tax credit and estimate your potential savings, by using the Small Business Tax Credit Calculator, powered by H&R Block®.
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