The Affordable Care Act and how it affects you, your family and your business

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Young Adults 18-29

​Greater extension of coverage.​

Middle Class Adults

Federally mandated participation.​

Impoverished Adults

​Rebates to help purchase through a "HIX".​

In 2014 most young adults will be individually mandated (required) to purchase health insurance. Requiring this segment of the population expands the pool of people who pay in. The income generated from this will be used to help fund Medicaid and HIX (Health Insurance Exchanges) susidies. Young, healthy adults may buy a "Catastrophic Plan" in order to bypass the mandate.

Starting in 2010, all young adults up to age 26 were allowed to stay on their parents plans.

Insurance will be required to be purchased. If not already on your employers plan, you may receive subsidies in the form of tax rebates  based on a sliding scale. Anyone earning between 134-400% of the Federal Poverty Level wil receive a rebate based on their income.

The upper income limit to qualify for Medicaid will be raised to 133% of the Federal Poverty Level. This will increase the amount of people covered by up to 15 million more people. Opponents contend the quality of care and amount of time to be treated will be greatly reduced as a result. Some states have opted out of the expanded Medicaid.

Senior Citizens
More benefits, less access (maybe).​

Seniors 65 and older will not see their primary coverage change. Medicare Part D (Prescriptions) will expand. Reductions have  been proposed for the amount Medicare Advantage plans are paid per patient and in the amount the Government reimburses to healthcare providers. If cuts do go through, it is likely some physicians and clinics will stop seeing Medicare patients.

Small Business Employees
​It's your responsibility.

Small business owners are not required to provide health insurance to it's employees. Small business employees will be required to purchase health insurance for themselves if not provided by their employer. Can be purchased through  a HIX based on a sliding income scale for anyone making between 134% and 400% of the federal poverty level.

Small Business Owners
​You magical number is...50.​

If you have more than 50 employees, you will be required to provide insurance for them . If you opt out, the government will impose a tax to the tune of $2,000 per person (the first 30 employees excluded). So, if you have 51 employees and opt out, you will pay the Feds $32,000! This is designed to offset the cost of those employees seeking coverage through the state HIX.

What does this mean for you? That depends on your particular situation. There is quite a bit of confusion over exactly how these changes will affect families, businesses and the economy in general. Compounding the issue is the multiple extensions and uncertainty about implementation. This is just a quick synopsis of the subject. Call us for further clarification and we will help you understand... as much as can be at the moment, It changes all the time. our job is to stay informed and do the homework for you. let us help you get prepared.