The Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010, is the result of an unusual and contentious legislative process that has produced a vague and sometimes conflicting law. The main objective of the new legislation is to provide health care for most U.S. residents, but the impact extends beyond the individual. Both small and large employers will be subject to new regulations regarding the provision of health care coverage to employees, as well as new tax and reporting requirements related to employee health coverage.
The changes prescribed by the new legislation will be phased in over the next several years. However, many of the changes (the so called, "Insurance Market Reforms") become effective in 2011 and employers will be required to comply with these changes.
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Our thanks to Delaware SHRM and to all who attended last night's Dinner Meeting. A copy of the presentation is available for download here.