Your Affordable Care Act Questions, Answered

Your Affordable Care Act Questions, Answered

Quick and direct answers to your Affordable Care Act questions.

The Affordable Care Act has brought a good deal of confusion into American life. As it changed not only the legal requirements for health insurance—but also how and when it’s purchased—it has significantly shifted the healthcare industry and impacted the life of each American.

With all of the changes it introduced, it’s no surprise that many people are left looking for clarity. We want to help, so here are some of the most common Affordable Care Act questions, answered.

  • What are subsidies? How do I get them? Subsidies are designed to make healthcare affordable for all Americans. They’re tax credits you can get to help you pay for your insurance coverage if your total Modified Adjusted Gross Income falls between 100 and 400 perfect of the Federal Poverty Level.
  • How do the new plans work? If you’re buying your coverage through the Marketplace, you’ll be presented with bronze, silver, gold, and platinum plans. As the metals increase in value, the actuarial value—or percentage of the average costs your plan will cover—increases.
  • As an employer, what do I have to do? Under the Affordable Care Act, if you employ more than 50 full-time or full-time equivalent employees, you’re legally required to offer your staff health insurance through your business. You will need to secure a group plan to comply with the law.

Do you have other Affordable Care Act questions? To get them answered, contact the experts at Employee Benefit Plans Inc. Whether you’re in need of individual health insurance or are shopping for a group plan for your business, our Greenwood Village, Colorado team is here to help you understand what you need, what you’re legally required to have, and how to get it. Make complying with the Affordable Care Act easy by calling us today!