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★★★ ★ How Health Care


Law Affects Retailers continued from page 34


★★★ SPECIAL REPORT ★ Impact on FSAs, HSAs and


gram that makes long-term care insurance affordable and avail- able to all Americans. Funded by premiums, this insurance will pay enrollees a minimum of $50 per day. Cash benefi ts can be ap- plied to nursing-home care. Wellness programs. Be-


ginning in 2011, the federal government expects to offer $200 million in grants to small businesses to implement wellness programs. Your business may be eligible if you have 100 or fewer employees who work 25 hours per week or more, and only if you did not have a workplace wellness program as of March 23, 2010.


HRAs. Some provisions of the new health care law may have a substantial impact on how your employees use their FSAs and HSAs. If your business offers an FSA, HRA or HSA, your employ- ees will be affected: • Change in coverage guide-


lines for young adults (see above) also affects FSAs. • FSAs, HSAs and HRAs: reim-


bursements for over-the-counter medication and drugs will not be permitted without a prescription. • Increased penalties on im-


proper distributions from health savings accounts. Add it all up, and you’ve


got one of the most sweeping changes to our health care sys- tem since Medicare in the 1960s.


And it’s just the beginning. It may take several years to see the full effect, as states enact their own provisions. For business owners like you,


it’s now more important than ever to get informed and stay educated. You should also seek the support of a trusted health care advisor to help you navigate, decipher and decode what it all means to you, your employees, and your bottom line. ■


Frank Fiorille is the director of risk management of Paychex, Inc., headquartered in Rochester, New York. For more information on Paychex Insurance Agency and health care reform, visit: http:// www.paychexinsurance.com/ healthcarereform.


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36 January 2011


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