WHEN DOES THE LIFETIME & ANNUAL PARITY TAKE EFFECT?

The answer is tricky. The Act itself says January 1, 1998, but the regulations call for a "transition" period:

• If a company starts offering its 1998 health coverage on January 1, (like 60% of firms in America) it is given until April 1, 1998 to comply.
• If a company started offering its 1998 health coverage in the fall of 1997 (like 40% of firms in America) it is given until January 1, 1999 to comply.