CLIENT UPDATE – NOVEMBER, 2012

The Affordable Care Act was upheld by the Supreme Court, with Chief Justice Robert joining the four “liberals” to find the law constitutional. Briefly: The big four changes are: parents can keep their children on the parents’ policies until the child reaches 26; by 2014 people with pre-existing conditions cannot be denied insurance; policies cannot be canceled except in the cases of fraud or intentional misrepresentation, and there can be no limit on lifetime and annual limits. In 2013: Companies will be required to provide information to employees regarding health care exchanges and there will be a $2,500 cap on annual flexible spending accounts In 2014: Companies with 50 or more employees must provide health care with minimum coverage or pay a “penalty” or “tax”; companies with 25 or less full time employees may receive a tax credit; incentives to provide wellness programs increase, companies with more than 200 employees must automatically enroll employees into a group health plan; state health insurance exchanges are to coordinate the purchase of private sector insurance; and employers cannot make employees wait more than 90 days before they receive insurance. California has passed legislation that requires behavioral therapy for autism, which affects 1 out of every 88 children, to be a covered condition. Quotables: The difference between genius and stupidity is that genius has its limits. ~ Albert Einstein. If you have an internet account, make sure that you have either written the password(s) and codes in your estate planning documents or given them to someone you trust. As more and more activity is done online, this is increasingly important. According to Dan Kinney of the L.A. County District Attorney’s Office, elder abuse most commonly occurs where the...