Part-Time Employees Better or Worse Off With ACA Plans?
November 27, 2013
By Amy De Vore+
Are part-time employees better or worse off with the new Affordable Care Act plans? That really depends on who you ask which answer you’ll get.
Part-Time Employee Plans Cancelled
There are these plans called “mini-meds” that cover part-time retail and restaurant employees, which are no longer allowed due ACA rules. Most of these plans offer limited coverage and may cap at a few thousand dollars per year. On the plus side, these plans were very inexpensive for part-time workers. So, employees may find they paid less for these plans than plans available through the Exchange.
ACA Plans Available to Part-Time Workers
Plans available on the ACA Exchange are Bronze, Silver, Gold, and Platinum plans. The ACA plans may cost more or part-time employees may find they pay less with the ACA plans if they qualify for one or both of the following: premium subsidies to help with the monthly cost and/or cost-sharing subsidies to help with copays, deductibles, and coinsurance (basically all the payments you make when you seek medical care).
As well as subsidies, the new plans must offer the essential health benefits which include $0 preventive care, maternity, and children’s dental and vision.
Overall, employees will fair better with benefits, but we’ll have to wait and see if they save money on their premiums. For further questions about the Affordable Care act plans call 800-930-7956 or contact Medicoverage.
The next open enrollment for new health coverage begins October 15, 2015. Applications must be submitted before December 7, 2015 to start a plan in 2016. If you are looking to get covered in 2015 you still have a few options. See link below:
Click here to learn how to get covered in 2015 if you missed the Obamacare 2/15 deadline.