Affordable Care Act-Pragmatic Implementation
Health care Reform Implementation-A Pragmatic View of the Affordable Care Act This article addresses the implementation of the medical insurance mandate under the Affordable Care Act of 2010, which will be implemented next year. Federal insurance purchasing subsidies, health insurance exchange plan design, and tax penalty information is highlighted for businesses and individuals. Small Businesses Eligible for Government Assistance to Purchase Medical Insurance Small businesses with less than twenty-five employees who meet certain criteria are eligible to receive federal subsidies to purchase health insurance for their employees. One of the criteria is an average wage of $50,000 or less for the entire workforce in determining any federal subsidy for insurance. How much is the subsidy? Only employer sponsored health plans with an actuarial value of 60% or higher will be eligible to receive the tax credit subsidies, so this is important information for small businesses who are consider...