Page 20 - 2020 Goodwill Benefits Guide
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Health Insurance Can I Save Money on my Health Insurance Premiums in
Marketplace Coverage the Marketplace?
Options and Your You may qualify to save money and lower your monthly premium, but only if your
employer does not ofer coverage, or ofers coverage that doesn’t meet certain
Health Coverage standards. The savings on your premium that you’re eligible for depends on your
PART A: General household income.
Information Does Employer Health Coverage Affect Eligibility for
When key parts of the health care law Premium Savings through the Marketplace?
took efect in 2014, there was a new Yes. If you have an ofer of health coverage from your employer that meets certain
way to buy health insurance: the Health standards, you will not be eligible for a tax credit through the Marketplace and may
Insurance Marketplace. To assist you as wish to enroll in your employer’s health plan. However, you may be eligible for a tax
you evaluate options for you and your credit that lowers your monthly premium or a reduction in certain cost-sharing if your
family, this notice provides some basic employer does not ofer coverage to you at all or does not ofer coverage that meets
information about the Marketplace and certain standards. If the cost of a plan from your employer that would cover you (and
employment-based health coverage not any other members of your family) is more than 9.5% of your household income
ofered by your employer. for the year, or if the coverage your employer provides does not meet the “minimum
What is the Health value” standard set by the Afordable Care Act, you may be eligible for a tax credit.
If you purchase a health plan through the Marketplace instead of accepting health
Insurance Marketplace? coverage ofered by your employer, then you may lose the employer contribution (if
The Marketplace is designed to help any) to the employer-ofered coverage. Also, this employer contribution (as well as
you ind health insurance that meets your employee contribution to employer-ofered coverage) is often excluded from
your needs and its your budget. The income for Federal and State income tax purposes. Your payments for coverage
Marketplace ofers “one-stop shopping” through the Marketplace are made on an after-tax basis.
to ind and compare private health
insurance options. You may also be How Can I Get More Information?
eligible for a tax credit that lowers your For more information about your coverage ofered by your employer, please check
monthly premium right away. Open your summary plan description or contact your plan administrator. The Marketplace
enrollment for health insurance coverage can help you evaluate your coverage options, including your eligibility for coverage
through the Marketplace begins in through the Marketplace and its cost. Please visit HealthCare.gov for more
November each year for coverage information, including an online application for health insurance coverage and contact
starting as early as the immediately information for a Health Insurance Marketplace in your area.
following January 1.
20
Marketplace Coverage the Marketplace?
Options and Your You may qualify to save money and lower your monthly premium, but only if your
employer does not ofer coverage, or ofers coverage that doesn’t meet certain
Health Coverage standards. The savings on your premium that you’re eligible for depends on your
PART A: General household income.
Information Does Employer Health Coverage Affect Eligibility for
When key parts of the health care law Premium Savings through the Marketplace?
took efect in 2014, there was a new Yes. If you have an ofer of health coverage from your employer that meets certain
way to buy health insurance: the Health standards, you will not be eligible for a tax credit through the Marketplace and may
Insurance Marketplace. To assist you as wish to enroll in your employer’s health plan. However, you may be eligible for a tax
you evaluate options for you and your credit that lowers your monthly premium or a reduction in certain cost-sharing if your
family, this notice provides some basic employer does not ofer coverage to you at all or does not ofer coverage that meets
information about the Marketplace and certain standards. If the cost of a plan from your employer that would cover you (and
employment-based health coverage not any other members of your family) is more than 9.5% of your household income
ofered by your employer. for the year, or if the coverage your employer provides does not meet the “minimum
What is the Health value” standard set by the Afordable Care Act, you may be eligible for a tax credit.
If you purchase a health plan through the Marketplace instead of accepting health
Insurance Marketplace? coverage ofered by your employer, then you may lose the employer contribution (if
The Marketplace is designed to help any) to the employer-ofered coverage. Also, this employer contribution (as well as
you ind health insurance that meets your employee contribution to employer-ofered coverage) is often excluded from
your needs and its your budget. The income for Federal and State income tax purposes. Your payments for coverage
Marketplace ofers “one-stop shopping” through the Marketplace are made on an after-tax basis.
to ind and compare private health
insurance options. You may also be How Can I Get More Information?
eligible for a tax credit that lowers your For more information about your coverage ofered by your employer, please check
monthly premium right away. Open your summary plan description or contact your plan administrator. The Marketplace
enrollment for health insurance coverage can help you evaluate your coverage options, including your eligibility for coverage
through the Marketplace begins in through the Marketplace and its cost. Please visit HealthCare.gov for more
November each year for coverage information, including an online application for health insurance coverage and contact
starting as early as the immediately information for a Health Insurance Marketplace in your area.
following January 1.
20
