Recap: Small Business Member Meeting - Health Care Reform: Fact or Fiction - October 15, 2014

Posted Date: 
October 15, 2014

October 15, 2014 Recap

Guest Speaker: Jay Fahrer – Associate Director Compliance & Communications, Independent Benefit Services on “Health Care Reform: Fact or Fiction”

Clark Kendall, Vice-Chair of the Small Business Committee, welcomed MCCC members and introduced Co-Chair Neil Simons who introduced his colleague and guest speaker, Jay Fahrer.

The focus of the presentation was on what employers should be thinking about now to prepare for 2015 – especially those in the small group (under 50 employees) market.  Jay reviewed a number of the facts and misconceptions. One thing is certain – Health Care Reform (HCR) has increased the compliance obligation of employers.

The thorough and detailed presentation went through many features of the 2,700 page law. Jay discussed how different employers are managing different aspects of implementation from age rating/list billing to calculating Small Business Tax Credits.

In 2014, many of the aspects of the HCR law took effect.  The regulation of other aspects is still being determined. 

Participants were able to ask questions and seek clarification on various points.  It was helpful to understand that the insurance market is dominated by the four majors (“The Blues” and their various franchises, United Health, Cigna and Aetna), the niche players like Kaiser, and Third Party Administrators who help with self-funded plans.  Depending on where your employees are based is important as you determine the kind of coverage your company needs.

At the end of the day, understanding the complexities of the law as they apply to compliance is critical to ensuring your business is managing the new law appropriately.

MCCC Strategic Partners