Crowe Horwath: The Implications of Healthcare Reform for Employers
Employers can take steps now to prepare for the implementation of the Patient Protection and Affordable Care Act.
David S. Horvath, CPA, Director, Crowe Horwath (12/29/2010)
While healthcare reform - formally called the Patient Protection and Affordable Care Act - became law in March 2010, questions still remain for business owners regarding how the new regulations will affect their companies and employees. Crowe Horwath outlines several measures employers can implement now to prepare for these changes.
Some of Crowe Horwath's tips for business owners include:
• Decide whether it is important for the group health plan to maintain grandfathered status
• Estimate the cost effect to the company for several plans and coverage options
• Amend group health plan documents to comply with new coverage regulations, reflecting discretionary changes
• Update summary plan descriptions and prepare employees