I debated in my own mind for a very long time whether I should write about this hot political issue. Regardless of peoples political opinion surrounding this new legislation, as of right now, its the law. October is a very important month as the first compliance date has arrived. By Oct. 1, all employers, regardless of business size or health insurance offer status, must have provided all employees with a Notice of Health Insurance Marketplace Coverage Options document. Theres one form for businesses that do offer health insurance to employees, and a different form for businesses that do not offer coverage to employees. All new employees hired after Oct. 1 will have to be provided the Notice document within 14 days of an employees start date.
Also on Oct. 1, open enrollment began for health insurance exchanges. This is odd, because Im not aware whether Ohios is up and running yet. When I went to www.insurance.ohio.gov, the web page said, This site is updated regularly, please check back often. There are two different health insurance exchanges coming–an individual exchange and a small-business exchange (SHOP). The individual exchange will be available for individuals who do not have an offer of health insurance or whose offer of health insurance is deemed unaffordable. The small-business exchange (SHOP) will be available for businesses with fewer than 50 employees. Health insurance coverage through the exchanges will begin on Jan. 1, 2014.
For businesses who employee more than 50 full-time employees, defined as those who work at least 30 hours per week, Obamacares employer mandate forces these employers to provide health insurance for employees or pay a penalty of $2,000 per employee (excluding the first 30). Unfortunately, the effect of this requirement is, in some cases, creating an incentive for businesses to avoid both the penalty and cost of coverage by hiring part-time employees or reducing full-time employees hours to below 30, since businesses will not be penalized for failing to provide health insurance to part-time employees. Ive personally talked with people who have had their hours cut to less than 30, and its causing a financial hardship for their family.
If people find themselves shopping for health care coverage on Ohios exchange, they will have to choose one of three plans: Bronze, Silver or Gold. From the research Ive done, the lowest cost Bronze plan premium is coming in around $260 a month. Im sure that will change one way or another before its all said and done. The one conclusion that Ive come up with to this point from the research Ive done, the insurance agents Ive talked with and employees I know, is that people have more questions than answers and seem to be confused by the whole thing.
During my research, I did come across a great alternative to all this affordable care, an option thats specifically written into the law as qualified coverage. Its a ministry located right here in Ohio called Christian Healthcare Ministries (CHM). If you or someone you know is an active member of a Christian church and is in need of health care coverage, www.chministries.org is a great solution. CHM has recently been featured on CNN and Fox, and it has been around for over 30 years. In my talks with their Executive Director, I was amazed that this was possible and that it complies with the Affordable Care Act.
On a personal note, if my healthcare insurance wasnt offered to me at my place of employment, I would be part of CHM and gladly say no thank you to Ohios healthcare exchange.
