Affordable Care Act (ACA)
Affordable Care Act (often referred to as "ACA" or "ObamaCare")
• • • Please read through the federally mandated notices that appropriately match your employee benefit status. Also, be sure to read through the other information provided on this webpage to help you understand the new ACA regulations.
I. Federally Mandated Notices for Employees
(Note: If you are eligible for DMBA insurance, you cannot get a subsidy at the exchange (i.e. marketplace) or the university's health insurance contribution.)
Information for Employees Who Are Currently Eligible for Full-Time Benefits from BYU-Idaho
(For Example: Full-time or ¾-Time Employees)
Information for Employees Who Are NOT Currently Eligible for Full-Time Benefits from BYU-Idaho
(For Example: Part-time and Student Employees)
Information for Non-Employees
(For Example: Students or Other Individuals Not Employed at BYU-Idaho)
II. A Few Key Provisions of ACA
- Requires most U.S. citizens and legal residents to have healthcare insurance or be taxed (or fined) by the IRS. This rule is known as the "individual mandate".
- Mandates that full-time employees (those who average 30 hours per week during a 1 year "measurement period" or who begin their employment in a 30 hour qualifying position) are provided healthcare by their employer. If their employer does not provide this insurance, they must pay a fine to the federal government.
- Requires healthcare "exchanges" (also known as the "marketplace") to be created in each state. These "exchanges" are places where individuals, families, and small businesses can purchase healthcare coverage. Depending on an individual's situation, he/she may be able to qualify for a "subsidy" or "tax credit" (i.e. a lower price for the insurance coverage, with the overage being paid for by the government).
- Provides expanded coverage for seniors (age 65) and low-income individuals and families through Medicare and Medicaid programs.
- Individuals with pre-existing conditions will not be denied healthcare coverage.
- Children will be able to stay on their parents' insurance until age 26.
III. Summaries and Full Text of ACA
The "Patient Protection and Affordable Care Act", commonly called the "Affordable Care Act" (ACA) or "Obamacare", is a federal statute that was signed into law by President Barack Obama in 2010. The act is aimed at 1) increasing the overall rate of health insurance coverage for Americans and 2) reducing the overall cost of health care. It provides a number of mechanisms (including mandates, subsidies, and tax credits) to employers and individuals to increase the overall coverage rate in the United States. (Reference)
• http://www.healthcare.gov/law/ (this site includes a link to the full text of the law)
IV. Resources from DMBA
Resources from DMBA to help you better understand ACA:
** BYU-IDAHO POLICIES AND GUIDELINES ** Due to impending changes in health insurance requirements for employers nationwide, BYU-Idaho has reviewed its practices relative to all categories of employees on campus. This review has led to revisions in the university's employment policies. These changes are designed to ensure the university continues to be wise with its available resources. To see the BYU-Idaho guidelines, click here.