Employer Plans
Employer-sponsored group plans are offered to eligible employees and their dependents.
This health policy is selected and purchased by the employer.
Facts:
- Most predominant and lowest cost method of health insurance today for most Americans
- Split premiums are common, meaning the employer will typically share the premium cost with the employee
- Employer chooses plan options
- Employer does ALL the work
- Employer premium contributions are NOT subject to federal taxes
- Employee contributions are paid with pre-tax income, lowering their taxable income
- ACA plans, aka ObamaCare plans
BUT… WHAT HAPPENS IF YOUR EMPLOYMENT ENDS?
- You may qualify for a Special Enrollment Period if you or anyone in your household lost qualifying health coverage in the past 60 days OR expects to lose coverage in the next 60 days.
- COBRA (Consolidated Omnibus Budget Reconciliation Act) is a federal law that allows you to temporarily keep health coverage if your employment ends, you lose coverage as a dependent of the covered employee, or another qualifying event. When you choose COBRA coverage, you pay 100% of the premiums —including the share the employer used to pay— plus a small administrative fee.
CLICK HERE to find out more about Employer Group Plans and COBRA