The Department of Health and Human Services (HHS) announced that it will stop accepting applications after September 22, 2011 waivers from the Patient Protection and Affordable Care Act (PPACA) requirements that plans must offer a certain minimum dollar coverage amount for essential benefits each year. This applies to from sponsors of “limited benefit” health care or “mini med” plans. Plan sponsors who have already received waivers – including those whose waivers have not yet expired – have until September 22, 2011 to seek an extension.
The waivers under the extension will now last through the end of 2013 if plan sponsors comply with certain requirements such as submitting information about their plans and ensuring that participants understand the limits of the coverage. Prior to this guidance, waivers lasted only one year. No annual dollar limits on essential health benefits are permitted beginning in January 1, 2014.
The application materials are available online at: CCIIO: The Center for Consumer Information & Insurance Oversight.
This is a summary of the guidance. A more detailed explanation can be found on the Towers Watson website.
Horizon Actuarial Services, LLC is an independent company and is not affiliated with Towers Watson.
The waivers under the extension will now last through the end of 2013 if plan sponsors comply with certain requirements such as submitting information about their plans and ensuring that participants understand the limits of the coverage. Prior to this guidance, waivers lasted only one year. No annual dollar limits on essential health benefits are permitted beginning in January 1, 2014.
The application materials are available online at: CCIIO: The Center for Consumer Information & Insurance Oversight.
This is a summary of the guidance. A more detailed explanation can be found on the Towers Watson website.
Horizon Actuarial Services, LLC is an independent company and is not affiliated with Towers Watson.
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