Time & Attendance
Prevent Call Outs
Implementation & Launch
By Max Mihelich
Feb. 21, 2013
A final health care reform law regulation limits employee out-of-pocket expenses for group health care plans. The final regulation was issued Feb. 20 by the U.S. Department of Health and Human Services.
According to the law, an employee’s maximum annual out-of-pocket expenses cannot exceed the maximum limit allowed for that year for contributions to health savings accounts. The regulation will go into effect starting in 2014.
Out-of-pocket expenses include deductibles, coinsurance and copayments for services received through in-network providers, according to the regulation.
The 2013 maximum contribution limit to an HSA for an employee with single coverage is $6,250 and $12,500 for family coverage. The Internal Revenue Service is expected to release the contribution limits for 2014 in May.
The new contribution limits will affect non-grandfathered health care plans. Ultimately, grandfathered health care plans will also be expected to comply with the regulation as they will no longer meet health care reform law requirements over time because such plans are able to raise the maximum contribution limit, according to the HHS.
Max Mihelich is Workforce’s editorial intern. Follow Mihelich on Twitter at @workforcemax. Comment below or email firstname.lastname@example.org
Schedule, engage, and pay your staff in one system with Workforce.com.
federal law, minimum wage, pay rates, state law, wage law compliance
Staffing Management4 proven steps for tackling employee absenteeism
absence management, Employee scheduling software, predictive scheduling, shift bid, shift swapping
Time and Attendance8 ways to reduce overtime and labor costs
labor costs, overtime, scheduling, time tracking, work hours
Don't miss out on the latest tactics and insights at the forefront of HR.