Answer: On June 23, 2010, the Departments of Labor, Health and Human Services and Treasury released final interim regulations relating to preexisting condition exclusions, lifetime and annual limits, rescissions, and other patient protections under the Affordable Care Act. The Regulations were published in the June 28, 2010 Federal Register. The table below contains a brief description of each regulation, its effective date, and its application to grandfathered group health plans.
|Regulation||Effective for Plan Years Beginning On or After||Applies to Grandfathered Group Health Plans?|
|Prohibition of preexisting condition exclusions or other discrimination based on health status||January 1, 2014, or for individuals under age 19, September 23, 2010||Yes|
|No lifetime or annual limits||September 23, 2010||Yes|
|Prohibition on rescissions||September 23, 2010||Yes|
|Patient protections||September 23, 2010||No|
For more details on these final regulations, download the full pdf available on the VSCPA Insurance Service Center’s administrator, Dominion Benefits’, website.
Health Care Reform Q&A is facilitated by the VSCPA Insurance Center. Have a question? Leave a comment, or contact the VSCPA Insurance Center directly. This document is not intended to imply or provide tax or legal advice and is the VSCPA Insurance Center's current interpretation of the Health Reform Bill.