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News > Update on Affordable Care Act
Update on Affordable Care Act
04-26-2010By Lonnie Chafin, Conference Treasurer
The new health care legislation signed into law this year will have profound effects on the market for health insurance and the affordability of insurance in general. Many churches have questions about how this new law might affect the insurance policies for active and retired clergy and conference employees.
The General Board of Pension and Health Benefits (GBOPHB) has dedicated considerable resources to learning how the new health care reform law impacts our local churches and retired clergy.
The complexity of the law and the special tax status of churches means that some aspects will not be known until sorted out by the Department of Health and Human Services and the Internal Revenue Service. GBOPHB is working closely with representatives from other denominational health insurance programs and well-established Washington connections to be prompt and accurate in taking advantage of the benefits of the new law.
Several requirements of the law take effect right away. For example, children of those enrolled in the health plan may add their children to the program up to the age of 26. Previously, the age limit was 18 or 22 if enrolled full-time in secondary education. Children may be added during the open enrollment period this autumn for coverage to begin January 1.
We are also exploring the applicability of a tax credit for non-profits providing health insurance. Please continue to pay the full costs of FICA and other employment taxes until we are certain that the credit is available to us and until the IRS develops the proper forms and paperwork.
Our office is collecting information about the law’s impact on our conference. Please send questions at any time; your questions may help identify components of the law that apply to us.
The conference will provide detailed, accurate, and timely information on local church obligations under the law as they are developed. Please be ready to disseminate the information to any participants or church boards that address the issues in your local church.