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Using the Power of Gen Y in the
Throes of Reform
Danielle Schweiger
Director of Marketing and New Business Development
Benefit Innovations, LLP
Indianapolis, IN
On the Horizon: PPACA Provisions of 2013
W-2 Reporting • Annual reporting begins January 2013 (for 2012 W-2 Forms)
Health FSA Limit • Plan years beginning January 1, 2013
• The annual limit on health FSAs is $2500
• Does not impact mid-year FSAs in 2012 until renewal in 2013
FICA and Medicare Tax Rate Increase • FICA Medicare Tax rate increases .9% for wages over $200,000 ($250,000 for married couples filing
jointly).
• Expansion of FICA to include additional 3.8% tax on unearned income of high income individuals.
Exchange and Subsidy Notice • October 2013
• Notice to plan participants explaining the Exchanges and potential federal subsidies if the employer-
sponsored coverage is “unaffordable”.
Patient-Centered Outcomes Research Institute (PCORI) Fee on Plans • First fee due July 31, 2013
• Fees are affective for each plan year ending on or after 10/1/12
On the Horizon: PPACA Provisions of 2014
Pay or Play
No Annual Dollar Limits on Essential Health Benefits if Required
No Preexisting Condition Exclusions
90-Day Limitation on Waiting Periods
Tax on Plans to Fund Temporary Reinsurance Program • States must establish transitional reinsurance programs to help stabilize premiums for individual
market coverage from 2014-2016.
• Plans and insurers will be taxed
Wellness Rewards • Employers will be permitted to vary premiums up to 30% (possibly increasing to 50%) for
participation in wellness programs.
Exchanges Must Be Established
Federal Subsidies • Premium assistance tax credits and cost-sharing subsidies become available for those eligible
through the Exchanges
Individual Mandate to Purchase Health Insurance
41% of Generation Y-ers have turned down
a job offer in 2009– because they expected
something better.
90% of Generation Y qualify their resume
as “perfect”. • According to National Association of Colleges and Employers; From the “Why
Worry Generation”, by Judith Warner, 5/28/10
Workforce in 2025, According to a BPW Foundation Study:
Gen Y
Everyone Else
5 MISTAKES MANAGERS MAKE
WITH GEN Y IN THE WORKPLACE (Tom McBride)
#1: Managers fail to recognize that the high-tech savvy of this generation—
unparalleled in history—masks their lack of low-tech skills.
#2. Managers fail to perceive the nuances of Gen Y work habits.
#3: Managers associate giving new
employees what they want with an inevitable
and perilous loss of authority. #4: Mangers become overly impressed with the widespread meme about Gen Y: that
they expect to change jobs many, many times.
#5: Managers will try to tell, not show, Gen Y worker what to do.
“The bottom line is that Gen Y workers will become
an integral part of the business environment – if
they haven’t already. By adapting to their
expectations – rather than fighting to go back
to the “old ways” – you can make the most out
of their drive, spirit and ingrained skills in
order to reap unprecedented rewards for your
company.”
-Chad Halvorson (CEO, When I Work)