What if I'm offered health insurance at work?

December 21, 2013

You can keep it. You're considered covered under the new Health Reform law. But you may be able to change to enroll in new coverage through AHIPE (that's us!) if you want to.

Any job-based health plan you currently have qualifies as "minimum essential coverage" under the law. You don't need to change to a new plan in order to avoid the fee that uninsured people may have to pay for 2014.

Comparing job-based plans to individual and family plans: 
 
With most job-based health insurance plans, your employer pays a portion of your premiums (usually about 50% of your portion of the monthly premium). If you choose a private exchange plan instead for you (as individual or as family), your employer will not likely pay any toward the premium. 

 

Many employers have a program established where you won't pay taxes on the amount you pay toward your health insurance each month when using payroll deduction. If you are an employee, you cannot deduct your private health insurance premium on your personal tax return. Owners usually can deduct their private plan premiums. We suggest that you consult with your CPA or tax advisor before making any decisions. 

 

Qualifying for exchange savings in 2014:
 
Even if you're offered job-based coverage, you can still choose to not take it an enroll in a private plan. However, you probably won't be able to qualify for any tax subsidies to lower your costs. A tax subsidy is the amount of money that the government will pay each month to your private insurance company to make your healthcare costs affordable.  
 
But with new health plans, you don't have to worry about being turned down. Everyone is approved. Pre-existing conditions are always covered and you can't be charged extra premium if you have pre-existing conditions. All new plans must include a of Essential Health Benefits with no yearly or lifetime benefit limits so you can never run out of insurance for core care. 
 
Your employer can tell you whether the insurance plan it offers meets minimum value and can provide you with information to determine if the plan is considered affordable to you.

 

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