We spend a lot of time here on Business Buzz talking to employers about the Affordable Care Act, but today we’re switching gears to discuss ACA from the employee’s perspective.
Right now is open enrollment season for 2015 for group health insurance plans as well as individuals purchasing coverage on their own or through the Health Insurance Marketplace. It can be a complicated subject, so it’s important for your employees to gather as much information as they can to make good decisions. Even if you’re offering group health insurance, your employees may find these resources helpful:
The Centers for Medicare & Medicaid Services (CMS) have put together a short video series to explain the basics of health insurance coverage for individuals. It includes policy tips, help in finding a provider, information on preparing for a doctor visit, and words and terms to know. It can be found by clicking here.
Information on the Health Insurance Marketplace is available through healthcare.gov. Here employees can find information about different plans, determine whether they’re eligible for premium tax credits, and apply for coverage. A one-page guide can be found by clicking here.
Employees who are covered under the Health Insurance Marketplace need to report changes to their circumstances on an ongoing basis such as:
- an increase or decrease in income
- marriage or divorce
- the birth or adoption of a child
- starting a job with health insurance
- gaining or losing eligibility for other health care coverage
- a change of residence
For the full list of changes that should be reported, employees can visit this page.
And anytime there’s money involved, there’s the potential for identity theft. Employees should be careful about only providing personal information to valid sources. The Federal Trade Commission provides a list of things to watch out for – click here for more information.
That’s it for now – continue to watch Business Buzz as we work through the Affordable Care Act together!