The DOL, HHS, and IRS jointly issued another set of FAQs (Part V) regarding implementation of the market reform provision Affordable Care Act, with topics including auto-enrollment in group health plans, summary of benefit disclosure requirements to group health plan participants, grandfathered plans, dependents to age 26 requirements, preexisting condition requirements for children in individual health policies, and value-based insurance design in connection with preventive care benefits.
The DOL, HHS, and IRS jointly issued another set of FAQs (Part IV) regarding implementation of the market reform provisions of the Affordable Care Act. For simplicity, only the questions are included below. You may view the government’s response here or access FAQs Part I, Part II and Part III.
The first reporting requirement we addressed was the grandfathered disclosure statement. Let’s now focus on the second reporting requirement we are highlighting: Creditable Drug Coverage.
As details of health reform begin to unfold, it is evident that employers will be burdened with additional reporting and disclosure requirements to both their employees and the government. One example already addressed in the blog is the inclusion of health benefits in the employee’s Form W-2. There are three additional reporting requirements we will highlight and address in separate articles: grandfathered disclosure statement, CHIPRA, and Creditable Drug Coverage.