in review: affordable care act (aca) through 2014

06/17/2014Diane Craney – Office of General Counsel

Rachel Carabell – Product Development TeamMel Grau – Marketing Coordinator

In Review: Affordable Care Act 2014

Don’t miss our next webinar!

Tuesday, June 24 at 10am

First Look: Affordable Care Act 2015• Are you ready for the upcoming

Affordable Care Act changes?  – An in-depth look at the Employer

Mandate– Answers to common questions about

topics like affordability– Things to consider for preparing for the

ACA in 2015 and beyond

Tuesday, June 24 at 10am

Affordable Care ActMajor Events

• 2010 – Affordable Care Act is made law

• Major events:– Coverage for adult dependents– No lifetime or annual limits for services– No exclusions for pre-existing conditions– 100% coverage for preventive services

What’s happened?

The Individual Mandate

Individual Mandate

• Key feature of the Affordable Care Act

• Upheld by the Supreme Court in 2012

• Exemptions are available• Enforced in 2014 – penalty is $95 and

will increase yearly

The Employer Mandate

What is the Employer Mandate?Large employers (50 or more full-time employees) are subject to penalties if they do not offer insurance to their full-time employees.

Insurance Coverage must pass three tests:– Minimum Essential Coverage– Minimum Value– Affordability

Health Insurance Exchanges

Health Insurance Exchanges• Alternative to commercial insurance available to

individuals, families and small employers.• Four tiers of coverage:

• Platinum• Gold• Silver• Bronze

• Open enrollment – 10/01/2013 to 03/31/2014• Many technical issues with the launch• However, over 8 million people signed up

Essential Health Benefits

Essential Health Benefit Categories

Image credit: Get Covered Illinois

Questions?