Denver Staffing Agency - Oct. 1, 2013 ACA Employee Notice - Coverage Options
TO: All J. Kent Temporary Employees
FROM: J. Kent Gervasini, CPC, CSP, President
RE: AFFORDABLE CARE ACT (ACA)
REQUIRED NOTICE DATE: OCT. 1, 2013
NOTICE TO EMPLOYEES OF
HEALTH INSURANCE COVERAGE OPTIONS
PART A: The Marketplace
PART B: J. Kent Staffing - No Insurance Offered 2014
DATE: September 17, 2013
The Patient Protection and Affordable Care Act (PPACA), also known in generic terms as ACA, “health care reform” and informally known as Obamacare is a United States federal statute signed into law by President Barack Obama on Mar. 23, 2010. Therefore in compliance with ACA, J. Kent Staffing (“J. Kent”) is providing you with written notice in reference to the above captioned item. The effective date of current employee notice requirement is Oct. 1, 2013.
ACA Individual Mandate Effective Jan. 1, 2014
Effective Jan. 1, 2014, the law requires that all Americans must acquire health insurance, either individually or through their employer. You should be aware that individuals who don’t purchase insurance can be fined the greater of $95 or 1 percent of their income – a maximum penalty that will rise to $695 or 2.5% by 2016. Although ACA’s Employer Mandate has been delayed to Jan. 1, 2015, the individual mandate has not been delayed.
You Are Not Eligible for Health Insurance Coverage through J. Kent Staffing
J. Kent is notifying you that you are not eligible for health insurance coverage in 2014 through J. Kent Staffing as none is offered.
Part A: Coverage Option -- The Marketplace (Public Health Insurance Exchange)
In compliance with ACA, J. Kent Staffing is providing to you general information about the Marketplace (Public Health Insurance Exchange) where you and your family may be able to obtain health coverage with a new kind of tax credit that lowers your monthly premiums and with assistance for out-of-pocket costs.
Part B: Coverage Option – J. Kent Staffing - No Insurance Offered 2014
In compliance with ACA, J. Kent Staffing is providing you its employer information that you will need to provide to the Marketplace if you decide to complete an application for insurance coverage in the Marketplace.
PART A: Coverage Option - The Marketplace Place
The Health Insurance Marketplace – General Information
When key parts of the health care law take effect in 2014, there will be a new way to buy health insurance: the Health Insurance Marketplace. The Marketplace is also known as the Public Health Insurance Exchange. To assist you as you evaluate options for you and your family, this notice provides some basic information about the new Marketplace.
What is the Health Insurance Marketplace?
- The Marketplace is designed to help you find health insurance that meets your needs and fits your budget.
- The Marketplace offers "one-stop shopping" to find and compare private health insurance options.
- You may also be eligible for a new kind of tax credit that lowers your monthly premium right away.
- Open Enrollment: for health insurance coverage through the Marketplace begins in October 1, 2013 for coverage starting as early as January 1, 2014.
Can I Save Money on my Health Insurance Premiums in the Marketplace?
You may qualify to save money and lower your monthly premium, but only if your employer does not offer coverage, or offers coverage that doesn't meet certain standards. The savings on your premium that you're eligible for depends on your household income.
Does Employer Health Coverage Affect Eligibility for Premium Savings through the Marketplace?
Yes. If you have an offer of health coverage from your employer that meets certain standards, you will not be eligible for a tax credit through the Marketplace and may wish to enroll in your employer’s health plan. However, you may be eligible for a tax credit that lowers your monthly premium or a reduction in certain cost-sharing if your employer does not offer coverage to you at all or does not offer coverage that meets certain standards. If the cost of a plan from your employer that would cover you (and not any other members of your family) is more than 9.5% of your household income for the year, or if the coverage your employer provides not meet the “minimum” value standard set by the Affordable Care Act, you may be eligible for a tax credit you may be eligible for a tax credit 1.
Note: If you purchase a health plan through the Marketplace instead of accepting health coverage offered by your employer, then you may lose the employer contribution (if any) to the employer-offered coverage. Also, this employer contribution – as well as your employee contribution to employer-offered-coverage – is often excluded from income for Federal and State income tax purposes. Your payments for coverage through the Marketplace are made on an after-tax basis.
How Can I Get More Information About the Marketplace?
Please visit HealthCare.gov for more information, including an online application for health insurance coverage and contact information for a Health Insurance Marketplace in your area. The Marketplace can help you evaluate your coverage options, including your eligibility for coverage through the Marketplace and its cost. For more information you must contact the Marketplace directly. J. Kent Staffing is not able to answer questions about the Marketplace.
1 An employer-sponsored health plan meets the "minimum value standard" if the plan's share of the total allowed benefit costs covered by the plan is no less than 60 percent of such costs.
PART B: Coverage Option – J. Kent Staffing – No Insurance Offered
- You are notified that you are not eligible for health insurance coverage in 2014 through J. Kent Staffing as none is offered.
- In compliance with ACA, J. Kent Staffing is providing you its employer information below that you will need to provide to the Marketplace, if you decide to complete an application for insurance coverage in the Marketplace.
Important - Retain Memorandum and This Information
This information is numbered to correspond to the Marketplace application.
3. Employer Name
J. Kent & Associates, Inc., dba J. Kent Staffing
4. Employer Identification Number (EIN)
5. Employer Address
500 Downing Street
6. Employer Phone Number
9. Zip Code
10. Who can we contact at this job?
ACA Administrator, J. Kent Staffing
11. Phone Number (if different from above)
12. Email Address
The information in the article above is intended for general education purposes only and should not be relied upon as a substitute for professional, legal, accounting, medical and/or insurance advice.