The last topic covered at this year’s convention may perhaps be the most important – the impact of healthcare reform on businesses. If you currently provide healthcare benefits to your employees, or believe you don’t have to, you won’t want to miss the May 2nd breakfast seminar.
On March 23, 2010, President Barack Obama signed the Patient Protection and Affordable Care Act (PPACA) into law. This new law changes the provision of healthcare in the
Specifically, the law calls for changes in Medicare, Medicaid and other government programs, reforms insurance markets, establishes new state-based exchanges, and imposes individual and employer mandates and new reporting and notification requirements. To finance the cost of health care reform, the new law imposes taxes on insurers, employers, administrators and individuals, as well as numerous cost savings measures
Some reforms, such as granting access to those with pre-existing conditions and the elimination of lifetime coverage limits have already been implemented. Others, including the bundling of medical services, an excise tax on so-called Cadillac employer-provided plans, the disclosure on employee’s W-2’s of the value of health benefits, and the auto-enrollment of new workers for businesses with more than 200 employees, have yet to occur.
As a result, many employers will need to take action to comply with the new law, including working with insurance companies to amend plans. Employers will also need to assess and review their current health plan arrangements to weigh the various alternatives to comply with health care reform going forward, decisions that will have a significant financial impact on employers and their employees for years to come.
What does this legislation mean to you? The May 2nd breakfast speaker, Michael H. Lewis of Schechner Lifson Corporation, will cut through the red tape giving you a better understanding of how healthcare reform affects your bottom line. A total compensation specialist, Lewis helps organizations control the true cost of health care by strategically realizing and reducing risk. Collectively, he has over two decades of experience in Total Compensation and Organizational Development.
Since the passing of the Patient Protection and Affordable Care Act (PPACA) his focus is preparing clients for the new changes that are upon us and those yet to come. He and his team are working intently to help organizations navigate the new landscape of group benefits.
He now lends his expertise to the NAUMD convention. Book a later flight home and join us for a morning that will have a ripple effect on businesses for years to come.
Visit www.naumd.com to learn more.
