May 2014 Health Care Reform
Posted on: May 6, 2014Categories: HR & ComplianceThe Consolidated Omnibus Budget Reconciliation Act (COBRA) requires covered employers to provide former employees and dependents who lose group health benefits with an opportunity to continue group health
insurance coverage. Individuals who are eligible for health coverage under COBRA are known as “qualified beneficiaries.” The Affordable Care Act (ACA) made health insurance Exchanges available, beginning Jan. 1, 2014, for individuals and small businesses to purchase health coverage. The Exchanges are health insurance marketplaces where consumers can compare private health insurance options and purchase insurance. Recently, the Department of Labor (DOL) and Health and Human Services (HHS) released several pieces of guidance regarding COBRA, which clarify the impact of the ACA’s Exchanges.
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