8 Things Accountants need to tell their Clients about Health Reform
Coverage Available Thru Group Insurance
If someone has group insurance thru their employer, they will NOT qualify for a premium tax credit if that coverage is BOTH:
1. Compliant in plan design - offering the new Essential Health Benefits
2. Affordable - under 9.5% of their salary.
If only one or neither is met, they may qualify for a subsidy. For spouses and dependents, the coverage must be affordable in relationship to household size and income. Employers are required by law to supply employees with documentation OMB1210-0149
AND One More Point...
Folks may find help thru Healthcare.gov, calling 800-318-2596 , navigators or agents / brokers. If they choose to work with an agent, their premiums are the same and there is no additional cost. They will benefit from the knowledge and expertise an agent who is certified by the Marketplace- -helping them choose a new insurance which meets their needs, goals, values and budget.