I’ve been working on Continuing Education in recent weeks, including the Affordable Care Act implementation. All of you who don’t have access to affordable employer coverage need to be paying attention! There’s a link below to a newsletter from the National Association of Tax Professionals which includes the basics.
The federal exchanges (online insurance markets) will be up in the next 6 weeks for Ohio & Indiana; Kentucky will have its own state exchange.
Current implementation glitches you’ll want to watch:
- The employer mandate (over 50 employees) has been postponed until January 2015.
- Ohio & Kentucky haven’t made final decisions about Medicaid expansion, which affects the availability for singles with incomes below about $15,000 families of 4 below $30,000. Indiana will not expand. NOTE: You may not have *any* access to subsidy if your income is in the Medicaid range, because the PPACA anticipated that all states would expand Medicaid to cover you.
Remember, if you’re satisfied with your employer coverage, no need to change. If not, you may be able to buy on the exchange & receive a subsidy.
Call if you have questions.