Affordable Care Act (ACA) Compliance Reviews
Is Your Health Plan in Compliance with the Affordable Care Act (ACA)?
With the ACA’s 2014 effective date rapidly approaching, many employers are concerned about whether or not their existing health plan will meet the new regulations.
•Does my plan follow the new rules?
•What changes do I need to make and when?
•If I don’t do anything, what penalties may we face?
A Realistically Priced Solution
Many comparable services in the marketplace are prohibitively expensive for school districts and other local governmental organizations. To solve this problem, MidAmerica developed a new ACA Compliance Review service to assess your current situation and provide recommendations for changes to avoid penalties.
Your Compliance Review Will Include Testing for These ACA Regulations:
•Pay or Play Coverage Test
•Nondiscrimination, including Coverage and Benefits
•Minimum Value (upon issuance of further guidance)
•Excise Tax on High-Cost Health Plans (“Cadillac tax”)
Upon completion, you will receive a formal report outlining your benefit structure and testing results. The report shows where your plan is in compliance with the new regulations and where you may be out of compliance. Recommendations and cost mitigation strategies will also be provided if any deficiencies are found.
Updates to Your Report
We recognize that the regulations are in flux and ever-changing right now. At no charge, we will automatically update your report during any given testing year to the extent that regulations are modified or finalized.
After MidAmerica receives the required data about your current health plan, you can expect your ACA Compliance Review report within 4-5 weeks time.
Call Us Today
To get started, just give us a call at 855-279-9603 or email ACATesting@midamerica.biz. We will send you our implementation kit. Data requirements are basic and straightforward.