On March 23, the Patient Protection and Affordable Care Act (commonly referred to as Health Care Reform) was signed into law. The Health Care Reform bill involves a number of changes to employer-sponsored health care and benefit plans. The majority of the changes will not take effect for several years, while some mandates will be implemented in the upcoming months.
Below are some of the highlights you should be aware of:
Effective January 1, 2011
For those employees enrolled in the lab's Flexible Spending Account (FSA) Program:
Effective with Jefferson Lab's April 1, 2011 Benefit Plan Year Renewal
Effective January 1, 2013
Contributions to Health FSAs will be capped at $2,500. The contribution cap will be re-evaluated annually.
Again, we will continue providing up-to-date information regarding the Health Care Reform provisions and how this will impact the lab's benefit plans as the regulations become more comprehensible. In the interim, if you have any questions, please contact Treva Ferguson (ext. 7291) or Douglas Roeder (ext. 7576).
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Submitted: Tuesday, August 10, 2010 - 2:00pm