Adam Solander Quoted in Article, “Healthcare Reform: Prepare for a Reporting Onslaught”

Compliance Week

Adam Solander, an Associate in the Health Care and Life Sciences practice, in the Washington, DC, office, was quoted in an article titled "Healthcare Reform: Prepare for a Reporting Onslaught."

Following is an excerpt:

Contained within the many pages of the Patient Protection and Affordable Care Act are numerous provisions outlining new disclosures required of nearly all companies.

Among them: reporting the value of employees' healthcare benefits on their Form W2s; providing employees with a summary of their benefits coverage and informing them of the health insurance exchanges; and informational reporting on the healthcare coverage the company offers for each employee. By now, most compliance and benefits executives know the recordkeeping and reporting requirements of ACA are both voluminous and complex. ?...

"They drastically increase plan administration," says Adam Solander. ?...

Along with the many disclosure provisions that companies in all industries face, many firms in the pharmaceutical and medical device industries also need to comply with Section 6002 of the Affordable Care Act, known as the "Sunshine Act," even though it is just a part of the law. ?...

At the same time, the change "was a very welcome shock," Solander says. He points out that the regulations to implement the rules, as well as any forms that companies could use, had yet to be issued. Given the complexity of the provisions, clear, detailed instructions are critical for employers to have any hope of accurately complying with them. ?...

While the deadline postponement offers some much needed breathing room, it would be foolish for most employers to take a break in their efforts to comply with the ACA. "The worst thing you can do is stop," Solander says. Instead, employers want to continue moving forward with their systems' implementations and testing.