March 2013
Report to Members

Getting Ready for Federal Healthcare Reform

By Philip Kirschner, President

The debate over federal healthcare reform was a fierce one. But regardless of any views on it as a matter of policy, it’s here now and we have to live with it. One of the most important things NJBIA is going to do this year is help our member companies get ready for big changes in healthcare.

If you’re a business owner — especially one who has more than 50 employees — you should be focusing on what you need to do to be in compliance with the Affordable Care Act, as it is called. This will not be easy. The federal healthcare reform law is already changing the rules for providing health insurance. Come January 1, 2014 some of the most significant provisions of the law will take effect and the federal government still hasn’t finished writing all of the rules.

To help members make sense of these changes, NJBIA has already begun sending regular updates through our Healthcare Issue Network e-mails. As news on how the reform act is going to be implemented becomes available, we will continue to update members through e-mails and our publications. Our Government Affairs staff does an excellent job of tracking healthcare regulations and requirements, and analyzing what they mean for businesses. You can sign up for the Healthcare Issue Network by visiting www.njbia.org/IssueNetworks and scroll down to the Healthcare section.

NJBIA also is planning three seminars, each one designed to bring the latest information to employers. On May 15, we’re going to focus on what employers need to know right now. The rules are already changing for many businesses. New limits on how much employees can contribute to Federal Savings Accounts are already in effect, and other rules and requirements will be discussed.

On July 15, we are going to focus on what businesses should be doing to adapt to the changes in the healthcare market. The rules for implementing the Affordable Care Act are still being written, and as more information becomes available, we will make sure it gets to you. Our goal is to get you the latest information as soon as possible.

Then, on October 30, we will focus on making sure businesses are ready for 2014. Next year, employers with 50 employees or more will have to either provide health insurance to their employees or pay a penalty. Also, small businesses and individuals will be able to purchase health insurance through the new health insurance exchange established by the Affordable Care Act.

In the meantime, federal healthcare reform is going to impact every business in some form or another. Sole proprietors will face the individual mandate, meaning they will have to purchase insurance for themselves and their families or pay a penalty. Health plans will face new standards as to what they must cover or what constitutes an “affordable” health plan.

Let’s face it: Just running your business day-to-day is tough enough. Trying to make sense of federal healthcare legislation that was 900 pages long is a headache no business needs. But like it or not, now is the time to make smart decisions as new mandates take effect. Don’t try to do it alone. Let NJBIA be the resource you use to help your business survive the Affordable Care Act.

Vincent Schweikert, Vice President & Publisher
973-882-5004. ext. 110
v.schweikert@njbmagazine.com

Anthony Birritteri, Editor-in-Chief
973-882-5004. ext. 104
a.birritteri@njbmagazine.com

George Saliba, Managing Editor
973-882-5004. ext. 106
g.saliba@njbmagazine.com

Lisa Criscuolo, Advertising Director
973-882-5004. ext. 108
l.criscuolo@njbmagazine.com

Gloria Owens, Account Executive
973-882-5004. ext. 109
g.owens@njbmagazine.com

Doug Prefach, Account Executive
973-882-5004. ext. 102
d.prefach@njbmagazine.com