With so much talk on the news about repealing Obamacare, the name used by Republicans to describe the Affordable Care Act, many may not realize that the majority of changes in healthcare and health insurance will not be implemented until 2014.
For employers this means that if you have more than 200 employees, new employees must be placed in the lowest cost option for health insurance offered. If more than one plan is offered then the new employee can change to a higher benefit plan after employment.
Employees with 50 staff members will have to offer all employees participation in a “qualified” health plan. Employees who fail to meet these criteria could be fined.
People who do not qualify for employer provided insurance must purchase a insurance offered in a qualified plan. Individuals without insurance may have to pay additional taxes.
Employers can pay up to 50% of a employee’s if they participate in a wellness program or meet other criteria specific to improving health care.
The requirements of the Affordable Care Act are confusing for both companies and individuals. To get the best advice, contact the Insurance Connection New Mexico. They can help you navigate through the health insurance maze and provide your company or yourself with qualified healthcare insurance plans as required by the Affordable Care Act. Call today to make sure you are ready for tomorrow: 1-800-732-0249 or in Santa Fe, 1-505-717-3479.