Sunday, June 30, 2013
A look at Access Health CT's role in federal health reform
Access Health CT is working, under federal health reform regulations toward becoming a new option to select and enroll in a medical insurance plan. Open Enrollment for Individuals and Small Employers in Conn begins October 1st for coverage effective January 1, 2014. Some information:
● The media campaign to increase awareness of this new option is now underway.
● Residents, as part of the enrollment process on the Individual part of Access Health CT site, may qualify for premium support. This support is based on income and is technically a tax credit. Information on the income range can be seen here.
● The page on the above link includes a calculator. By entering income information it will show what your share of the monthly premium will be.
● This pdf summary highlights 10 points about the Access Health CT program.
● Small businesses will be able to go to the Small Business Health Options Program or “SHOP” part of Access Health CT. Some information can be seen here.
● Certain small employers may be eligible for a tax credit to offset part of the expense of their medical benefit plan. In 2013 any small employer can apply for a tax credit of up to a 35%. This changes to 50% in 2014 and is only available if the firm selects a plan through the SHOP part of Access Health CT.
Note: The maximum credit is only be available if an employer has 10 or fewer employees, excluding the owner, and the average salary for these employees is $25,000 or less. The credit drops quickly and is not available to firms with 25 or more employees or if the employee average salary is $50,000 or higher.
Contact me - (860) 451-9793 - if questions about Access Health CT or the medical plans for Individuals or Small Employers, which are anticipated to be available.
John C Parker, RHU, LTCP