Obamacare News Blog

Employees Cannot Purchase Individual ObamaCare Plans

Under ObamaCare if your employer offers health insurance you cannot purchase individual insurance through Health Insurance Marketplace. There are a few exceptions to this, however this is unlikely because of employer based penalties.

Individuals Who May Purchase on the Exchange Even if Their Employer Offers Insurance

  • If an employer based insurance plan exceeds 9.5% of your household income
  • If an employer based insurance plan does not cover 60% of your medical expenses

Click here to learn more about ObamaCare and Small Business.

Employer Based Penalties for Offering Plans that Do Not Meet Minimum Benefits

Employers with 50 or more full time employees must offer health insurance or face penalties.

  • An employer will pay $2,000 per FT employee if they do not offer health insurance
  • An employer will pay $3,000 per FT employee if they offer health insurance and it exceeds 9.5% of your household income and/or does not cover that 60% of your medical costs

Exchange Plans Available if Your Employer Opts Out

There are four new ObamaCare plans named after precious metals that are available called the Bronze Plan, Silver Plan, Gold Plan, and Platinum Plan. These are also the names of the plans that employers may offer you.

If you are unsure if your employer based plan offers ObamaCare eligible plans call 800-930-7956 or contact Medicoverage for assistance. We are able to help you figure out what you qualify for.



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