The Affordable Care Act marked a revolutionary change to health care. Each year, some of the details of the law are altered slightly to reflect marketplace adjustments. Here are important changes to the ACA for the coming year.
- Cap on contributions to the health flexible spending accounts: The cap on contributions to health flexible spending accounts will be adjusted to $2,550 from $2,500 in 2014.
- Limits raised for out-of-pocket deductibles: For families and individuals, the out-of-pocket expenses limit will increase to $6,600 for an individual and $13,200 for families. For small group plans, maximum deductibles will be $2,050 for an individual and $4,100 for families.
- 2015 penalties: Penalties for people who forego the minimum coverage required under the ACA will increase in to $325 for an adult and $162.50 per child or 2 percent of income (whichever is greater). This is a big jump from 2014. After a “grace” year to give people time to learn about the law, the government now expects more people to enroll — or pay the penalty.
U.S. Department of Health and Human Services – https://www.healthcare.gov/