In his first remarks to a joint session of Congress in a pseudo-State of the Union address, President Obama vowed that health care reform would come within a year, but provided few details, according to a Reuters news article.

CNN reports that the president did, however, place preventive care at the forefront of a promised reform in American health care, and touted extensive changes his administration has made to COBRA that force employer action as early as March 1.

Employers with 20 or more full-time (or full-time equivalent) employees face a slew of new regulations regarding COBRA, thanks to new provisions in the economic stimulus legislation signed by the president on February 17.

Some of these changes are huge, including subsidy payments the government will force employers to pay. Other provisions could require major time and capital expenditures on the part of employers. But more important is that some of the changes are happening NOW, meaning employers had better get moving in order to comply. Health insurance agents with commercial clients would do well to get this information to those clients.

HRS/TND Associates, a Pennsylvania-based human resources consulting firm, did a good job in summarizing the requirements. Click here to see their fact sheet, which includes some important tax information.