Get Affordable Coverage Under The Affordable Care Act!

Get Affordable Coverage Under The Affordable Care Act!

Get Affordable Coverage Under The Affordable Care Act!The Affordable Care Act (ACA) has brought a lot of changes to the health care industry, mainly for the better! Through the ACA, there are certain qualifications when it comes to your health care plan. You can get health insurance on your own as an individual, but your employer may offer health care plans that may be a good option for you. Here is some information about coverage under the Affordable Care Act.

As the name suggests, one of the main concerns of the Affordable Care Act is to make health care affordable, for both individual health care plans as well as employer-provided plans.

How do you know if your employer’s health insurance is considered affordable?

If your employer offers you an employee health care plan, it has to be affordable under the ACA. Employer coverage is considered affordable if the employee’s contribution for the coverage does not exceed 9.5 percent of their household income.

How do they determine if an individual plan is affordable?

For individual plans there are more factors to consider. To help them determine if a plan is affordable, the ACA has the following safe harbor provisions. This information they gather helps them to offer affordable individually tailored plans for people of all means and backgrounds. Insurance providers must determine and consider:

  • 9.5% of an employee’s W-2 wages (after the 401K plan and cafeteria plan salary reductions, if they apply)
  • 9.5% of an employee’s monthly wages (the hourly rate x 130 hours per month)
  • 9.5% of the Federal Poverty Level

Contact Employee Benefit Plans Inc. in Greenwood Village for all of your Colorado health care insurance needs. The ACA has changed the face of health care and made it more affordable for everyone. Let us get you an affordable insurance policy that meets ACA standards. Get a policy today, and get the protection you deserve!