Another important component of the Affordable Care Act has been delayed. As the New York Times first reported, full implementation of a law that would limit out-of-pocket costs has been delayed until 2015.
As part of Health Care Reform, out-of-pocket costs, including co-payments and deductibles, would not exceed $6,350 for an individual and $12,700 for a family. However, as a result of the delay, some insurers will be able to set higher limits in 2014.
According to the report, computer systems integration issues are a primary reason for the delay. For example, businesses that are using multiple systems to administer medical coverage and drug benefits are claiming that it is difficult to track all of the out-of-pocket costs that an individual incurs.
Thus, companies that are using multiple systems have been granted the one-year extension.
Additional Health Care Reform Information
Please stay tuned to CBG Benefits for additional information on this topic and other key Health Care Reform initiatives.
We invite you to access our Health Care Reform Resource Center, where you can download items such as:
- Compliance Checklists
- Implementation Timelines
- Frequently Asked Questions
- Acronym Guide
- And more…
If you have any questions, please contact the CBG Benefits team at 781-759-1222 or via our online form.