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2013

Extension of CHIP:

Extends authorization and funding for the Children's Health Insurance Program (CHIP) through 2015 (current authorization is through 2013).

CO-OP Health Insurance Plans:

Creates the Consumer Operated and Oriented Plan (CO-OP) to foster the creation of non-profit, member-run health insurance companies.

Medicare Tax Increase:

Employer Retiree Coverage Subsidy:

Eliminates the tax-deduction for employers who receive Medicare Part D retiree drug subsidy payments.

Increases the Medicare Part A (hospital insurance) tax rate on wages by 0.9% (from 1.45% to 2.35%) on earnings over $200,000 for individual taxpayers and $250,000 for married couples filing jointly and imposes a 3.8% assessment on unearned income for higher-income taxpayers.

Increases the threshold for the itemized deduction for unreimbursed medical expenses from 7.5% of adjusted gross income to 10% of adjusted gross income; waives the increase for individuals age 65 and older for tax years 2013 through 2016.

Itemized Deductions for Medical Expenses:

Flexible Spending Account Limits:

Limits the amount of contributions to a flexible spending account for medical expenses to $2,500 per year, increased annually by the cost of living adjustment

Health Care Reform: A Timeline for Employers