Healthcare reform: What you need to know

The Affordable Care Act (ACA), passed in 2010, requires most Americans to buy health insurance. Here’s what it means for you and your company.

ACA for small businesses

Small businesses that have fewer than 50 full-time employees aren’t required to offer their employees health insurance coverage under the Affordable Care Act.

All small business plans offered by Geisinger Health Plan are compliant with the Affordable Care Act and offer the 10 essential health benefits, required by the ACA.

Essential health benefits 

Starting Jan. 1, 2014, health insurance plans offered in the individual and small group markets are required to cover:

  • Ambulatory patient services
  • Emergency services
  • Hospitalization
  • Maternity and newborn care
  • Mental health and substance abuse treatment
  • Prescription drugs
  • Rehabilitative and habilitative services and devices
  • Laboratory services
  • Preventive and wellness services and chronic disease management
  • Pediatric services, including oral and vision care

Although a company would not be penalized for not offering employees health insurance coverage, your employees may be penalized if they are not covered. 

If your company does not offer health insurance coverage to employees, they may shop for individual Geisinger Marketplace plans at GeisingerMarketplace.com or HealthCare.gov. Your employees can also check if they're eligible for financial assistance at HealthCare.gov.

The penalty for employees who do not enroll in an insurance plan is:

  • For 2017: $695 per uninsured adult in the household and $347.50 per uninsured child under 18 (capped at $2,085 per household) or 2.5 percent of their taxable household income, whichever is greater.

Call us at 800-554-4907, Monday through Friday, 8 a.m. - 5 p.m. to learn more about your options. 

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