New legislation signed by President Obama eliminates the Affordable Care Act's annual limitation on deductibles for non-grandfathered plans in the small group market, effective retroactively to 2010. Those limits were set at $2,000 for self-only coverage and $4,000 for other than self-only coverage for plan years beginning in 2014; however, certain small group plans were allowed to exceed the limits if necessary to reach a given level of coverage, or metal tier.
The annual limitation on out-of-pocket expenses for non-grandfathered group plans was not eliminated and remains in effect. Annual out-of-pocket expenses (including coinsurance and copayments, but not premiums) for a plan year beginning in 2014 may not exceed $6,350 for self-only coverage or $12,700 for other than self-only coverage. For 2015, these limits increase to $6,600 and $13,200, respectively.
For more information or to subscribe to these HR360 News Alerts contact us.