Overview of the Affordable Care Act

A major component of the Affordable Care Act is the Health Benefits Exchange.The Exchange is a tool for small businesses and individuals to obtain health insurance. We are prepared to help you navigate amongst the Business and Individual Exchanges along with the private market programs.

The Affordable Care Act comprises of two Exchanges.

•       The Individual non business exchange.
  
  
•       The Small Business Exchange ( 2-49 employees).
  
  

Along with the Exchanges there will be regular market programs for additional benefit options.

We are still waiting for guidance from the State concerning the rules and regulations.

The first phase is to begin October 2013 for implementation January 2014.

Note: the penalty for large employers (50+ on the payroll) has been pushed off till 2015

However:

The penalty for employees still remains. Those employees will have to obtain coverage or be penalized.

At Mainline Insurance we are prepared to deliver guidance to navigate during these changing times.

Many employees that have to go to the Individual Exchange will receive subsidies from the government to help them afford their coverage.

The education and certification process has started. Mainline Insurance has been certified and authorized to offer plans on the NYS Health Benefits Exchange.  It appears it is taking the State some time to get the curriculum together along with the insurance companies still not delivering plan design and rates for plans offered on the exchange and in the private market.

I anticipate the pace to pick up now since October is right around the corner.

Stay tuned as the Affordable Care Act unfolds and we break it down for you.

Regards,

Vincent

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