Recent health care reform regulatory changes are so profound that many in the industry describe them as nothing short of “historical.” Sweeping changes signed into law in March 2010 usher in a series of major changes to health care that will take place over time including an end to preexisting condition limitations, lifetime maximums, dependent coverage to age 26, closing the Medicare prescription drug “donut hole”, and revising their approach to the Employee Retirement Income Security Act (ERISA). While many of the new rules and regulations won’t take effect until 2014, Secova can start to ensure your compliance with the Act.

Secova is committed to providing compliance assistance on federal and state regulations. Among the tasks with which you may be faced are reporting the cost of employer-sponsored health care in each employee’s W-2, automatic enrollment, revising the design of your group health plans, providing new summary plan descriptions, and communicating to your employees about the effects of the new rules and regulations on your benefits. Given the complex—and, in some cases, significant—changes that the Health Care Reform Act imposes on employers, it’s no wonder that compliance topped our HR clients list of concerns.

Laws can change in a very short period of time. In light of these significant changes you may need Secova to help you evaluate the cost impact, come up with cost saving solutions, and coordinate compliance with current laws and numerous pre-existing laws - such as COBRA, HIPAA and ERISA.