Companies prepare for new health care law

Companies have just 12 months to decide what to do about their health benefits before the major provisions of the federal overhaul law go into effect on Jan. 1, 2014, The Wall Street Journal reported.

The law will reshape health coverage in the U.S. Employers with at least 50 workers will owe penalties if they don't cover full-time employees. Most Americans will face a parallel "individual mandate" to obtain insurance.