April 2013 Issue
March 28, 2013

What you need to know about insurance coverage in 2014

Author: Susan Klug
Source: NYSUT United

Some NYSUT members have asked about the requirement under the Affordable Care Act for people to have health insurance in 2014. You will be glad to know that the vast majority of NYSUT in-service and retired members will meet the requirement and will not have to pay any tax penalties if they are covered through any of the following plans:

  • Employer-sponsored coverage, including COBRA
  • Medicare or Medicare Advantage
  • Medicaid
  • TRICARE or certain types of VA coverage
  • Coverage purchased through the individual market at least as good as the "bronze" plan offered by the health exchange (similar to plans currently offered by Healthy New York and Family Health Plus).

Those without coverage should be able to qualify for coverage purchased through the new Health Exchanges offered by New York state in 2014 or the expanded Medicaid program. Pre-existing exclusions also will be eliminated.

Although there is no requirement for employers to offer coverage, some large employers may be subject to tax penalties for failing to provide health insurance to their full-time employees if their employees receive low-income, government subsidies for coverage purchased through the exchanges.