October 4th, 2010 – Today, Anthem Blue Cross Blue Shield of Colorado introduced two tools to help small business group health insurance administrators understand and capitalize on changes brought about by the Patient Protection and Affordable Care Act (PPACA).
First, Anthem introduced a new Grandfathering Decision Tool which will help small group administrators understand the impact of their changes should they make a change that eliminates their Grandfathered status. Under the PPACA health insurance plans in force before the Patient Protection and Affordable Care Act was signed into law by President Obama on March 23rd, 2010 are exempt from many of the PPACA’s requirements.
Maintaining the old Grandfathered plans may make good sense under certain circumstances and the Grandfathering Decision Tool will help with that determination.
Second, Anthem partnered with H&R Block to provide a new Small Business Tax Credit Calculator which helps business owners with 2-25 employees see if they’re eligible for the tax credit and estimate the tax credit that they might be able to get as a result of providing health care benefits to their employees. Tax credits can be as high as 35% for the 2010 tax year.
To use both of these useful tools (whether you use Anthem for group insurance or not) please visit their Health Care Reform Portal.