Health Insurance Marketplace Subsidies - Newport News

December 2, 2013

Effective January 1st “lower” income employees (income under about $45,000 for singles and $95,000 for families of 4) will be eligible for government subsidies towards the cost of their health insurance if purchased on the new health insurance Marketplace. The subsidies can be very significant, often paying a very large portion of the cost of coverage, and often offering more net financial benefit than the employer contribution towards group coverage.

However, employees are not eligible for subsidies if their employer offers them 'adequate' and 'affordable' group coverage, even if the employer provided subsidy is far less than the government Marketplace subsidy.

Accordingly, all employers should gain an understanding of how the marketplace subsidies are calculated and determine whether their employees will be better off remaining eligible for the employer group policy or being eliminated from employer coverage and obtaining coverage in the Marketplace. If these determinations result in the need to purchase employer group insurance in the new SHOP Marketplace (small employers only) the open enrollment period with no minimum participation or employer contribution requirements runs from November 15th to December 15th so action may need to be taken quickly.

Monday, December 2, 2013

9:00 a.m. - 9:30 a.m. Registration
9:30 a.m. - 12:00 p.m. Workshop

Kaufman & Canoles' Newport News Office
One City Center
11815 Fountain Way, Suite 400
Newport News, Virginia

The registration fee is $200 for the first registrant from each company and $100 for each additional registrant. Registered participants will be asked to complete a simple questionnaire (requiring less than 30 minutes of preparation time) that will be used during the hands-on portion of the training session.

The deadline to register for the workshop is one week prior. A refund will be given for cancellations received one week prior.

To register click the link below or please contact Erin Holland at (757) 624.3209.