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March 24, 2010
On March 21, 2010, the U.S. House of Representatives passed major health care reform legislation, the Patient Protection and Affordable Care Act. The legislation was previously passed by the U.S. Senate in December 2009 and is set to be signed by President Obama as soon as possible.
In addition to the main bill, the House also passed a budget reconciliation bill. The Health Care and Education Reconciliation Act of 2010 includes changes to the main bill sought by the House. These changes must now be passed by majority vote in the Senate and signed by the President before they take effect.
How Health Care Reform Will Affect Your Business
Although the reform package has yet to be finalized, major changes are looming. Some of the package’s provisions that will affect employers include:
Parker, Smith & Feek, Inc. Can Help You Get Ready for Changes
Health care reform will almost certainly involve sweeping changes to the benefits you provide your employees and how you provide them. However, it will likely affect each business differently. Once there is more clarity to this legislation we will send out a detailed overview and timeline on its implementation. We will continue to monitor developments and keep you informed.
Please contact your Parker, Smith & Feek, Inc. representative with any questions.
The views and opinions expressed within are those of the author(s) and do not necessarily reflect the official policy or position of Parker, Smith & Feek. While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it.