How Health Care Reform Affects Employer Plans
Health insurance through your workplace might change as a result of the Affordable Care Act. Many employees may have more choices for an affordable health plan. If you already have insurance through your job, health care reform may give you more choices.
How Your Health Insurance Could Change
Depending on the size of the company you work for, you could get insurance through your job for the first time.
If you've been getting health insurance from your employer, you may not see many changes. Or, you may see a change, such as:
- Your company may stop offering health insurance.
- Your company may offer health insurance for the first time.
- You may shop for health insurance through the online health insurance Marketplace.
- You may receive greater incentives or penalties based on whether you participate in workplace wellness programs.
Why the Size of Your Company May Matter
If you work for a company with fewer than 50 full-time workers, you might be able to get health insurance from your job for the first time. Your company may choose to do this because some small businesses qualify for a tax break for offering insurance.
But keep in mind that employers with fewer than 50 employees do not have to offer health insurance and will not pay a penalty if they choose not to.
If your workplace doesn't offer health insurance, you can buy it through your state's Marketplace.
If your company has 50 to 99 full-time workers, by 2016, it must offer health insurance that complies with the law for you and your dependents. Your dependents are your children up to age 26. Your employer is not required to cover your spouse. If your company doesn't offer what is considered affordable and adequate insurance under the law, it will pay a penalty for any employees who buy a health plan through the Marketplace and get a tax credit to help pay for it.
If your company has 100 workers or more, it has to provide insurance coverage to at least 70% of full-time employees in 2015 and 95% in 2016 to avoid tax penalties.