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Kiss your employee benefits goodbye.

I got this email from one of our labor attorneys today.
It looks like the government will be removing employees from our health insurance by offering them Government Insurance. (Medicaid). ( Not to be confused with Government Motors)
This will drive down enrollment and subsequently drive up premiums (along with mandated freebies) forcing our company to abandon its health insurance benefits to its employees.

Now that the U.S. Supreme Court has upheld the constitutionality of the Patient Protection and Affordable Care Act, employers that provide health benefits to employees will need to take immediate action to comply with the new law beginning in 2012. They also should begin to consider whether it makes sense strategically to continue to offer group health plan coverage to employees in 2014 and beyond.

Immediate Issues
• Preparation and distribution of summaries of benefits and coverage (SBCs)
Reporting the cost of coverage on 2012 Forms Now that the U.S. Supreme Court has upheld the constitutionality of the Patient Protection and Affordable Care Act, employers that provide health benefits to employees will need to take immediate action to comply with the new law beginning in 2012. They also should begin to consider whether it makes sense strategically to continue to offer group health plan coverage to employees in 2014 and beyond.

Join us for a webinar program discussing both the immediate impact and longer-term implications of the Court’s decision.

Immediate Issues
• Preparation and distribution of summaries of benefits and coverage (SBCs)
• Reporting the cost of coverage on 2012 Forms W-2
• Permitted uses of medical loss ratio (MLR) rebates from insurance companies
• New administrative fees payable by health plans to the federal government
• New limits for health care flexible spending accounts for 2013

Strategic Considerations
• Beginning in 2014, all individuals will have an opportunity to purchase individual health insurance from a state exchange. If (as expected) the exchanges provide viable health care coverage alternatives, employers will need to decide, from the financial and human resources perspectives, whether to continue to offer employer-sponsored group health insurance coverage to employees. The Affordable Care Act contains a dizzying array of financial incentives and penalties that are relevant to an employer’s choice.
• Permitted uses of medical loss ratio (MLR) rebates from insurance companies
• New administrative fees payable by health plans to the federal government
• New limits for health care flexible spending accounts for 2013

Beginning in 2014, all individuals will have an opportunity to purchase individual health insurance from a state exchange. If (as expected) the exchanges provide viable health care coverage alternatives, employers will need to decide, from the financial and human resources perspectives, whether to continue to offer employer-sponsored group health insurance coverage to employees. The Affordable Care Act contains a dizzying array of financial incentives and penalties that are relevant to an employer’s choice.