Employer Sponsored Health Insurance Coverage and Healthcare affordability test 9 83%

With all of the variety of employee benefits options, you might wonder if you should enroll in your employer plan, or shop with Covered California instead. In most cases, your employer offer is your best bet. In fact, if your employer offer is considered affordable and minimum value by federal standards, you won’t qualify for financial help with a Covered California plan.
So, how do you determine if you qualify for a #CoveredCa plan or not? There are many methods used to calculate the affordability of the employer sponsored health plan. But the idea is quite simple: #Employer-sponsored insurance is considered affordable if the employee’s share of the premium for the lowest-priced plan available to cover just the employee—not their dependents—is 9.83% or less of their household income for 2021.
You can take a look at our specific examples on our web site that will help you determine if you qualify to enroll in the CoveredCa and correctly opt out from the employer sponsored plan. I will have a link under this video.
If one or more family members is offered a health insurance plan through their job that is considered affordable, then no other household members or dependents who are also offered employer-sponsored insurance through the same employer are eligible to receive financial help if they purchase their insurance through Covered California. Employer-sponsored insurance is considered affordable if the employee’s share of the premium for the lowest-priced plan available to cover just the employee—not their dependents—is 9.83% or less of their household income for 2021.
Now, very important if the employer provided insurance does not include spousal and dependent coverage then these dependent can qualify for a subsidized Covered California plan. Their eligibility for subsidies would be based on the household size and income.
If you would like to see the income limits to qualify for these subsidies, feel free to refer to my web site where I have the income limits table. This is a very useful tool that I use every day and it helps me tremendously to quickly answer people’s questions regarding the eligibility based on the household size and annual adjusted gross income. I have other good stuff on my blog, so feel free to explore and save some big bucks on your health insurance!
If you have questions or need help enrolling in an individual health insurance plan or would like to set up employee benefits for your small business please feel free to reach out! I would love to help!
If you found this vide helpful- you know what to do! Please help me be found online by others by simply liking, commenting, subscribing to my content! I really appreciate this! Thank you for watching and have a blessed day!
#healthcare #aca #employeebenefits


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[koobatashin]

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