Benefit standards under the Patient Protection and Affordable Care Act will be different for plans at large employers than they are for individual policies and plans at small employers.
The IRS talks about what the standards for large employers might look like in a new set of draft regulations, "Minimum Value of Eligible Employer-Sponsored Plans and Other Rules Regarding the Health Insurance Premium Tax Credit" (RIN 1545-BL43).
Employers with more than 50 employees — or 100 employees in some states — will have a lot more freedom than smaller employers when they're designing their health plans. But, if large employers simply want to offer a plan that they know will help them avoid paying the new PPACA penalties on employers that fail to provide health benefits with a "minimum value," they could base their plans on one of several "safe harbor" designs that the IRS will develop, the IRS said in a preamble to the draft regulations.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
