Steiner & Granger
141 N. Main St
P.O. Box 28
Bluffton, OH 45817
419-358-0689

[email protected]

As we are closer and closer to the implementation of the Affordable Care Act and the opening of the Public and Private Health Insurance Exchanges starting Oct. 1, 2013, there are still many missing pieces to the puzzle.

Steiner and Granger will be doing its best to help put those pieces in place for our current and future clients as we move forward into this new era of healthcare insurance.

We have currently completed the first phase of Certification by the Centers of Medicare and Medicaid (CMS) and Health and Human Services (HHS) to participate as agents/brokers in the Individual and SHOP Marketplace of the Affordable Care Act. 

Only licensed agents/brokers we will be able to advise, assist, and enroll all individuals and small business groups in the Federally Facilitated Market Place and Private Market Place Exchanges. 

The Public Federally Facilitated Market Place Exchanges will offer Subsidies to those individuals that will qualify for Federal assistance to purchase their health care insurance.

ACA Facts you should know:

• All individuals must have Essential Minimum Health Insurance either through their employers or by purchasing it through either the Federally Facilitated Market Place (FFM) or Private Marketplace Exchanges.  If you do not purchase health care insurance for 2014 you will be subject to a penalty.

• Individuals with income levels between 100% and 400% of the Federal Poverty Level will be eligible for some type of premium subsidies to purchase health insurance.

• Employer Groups with 50 or more Full-time Equivalent Employees must provide affordable health care premiums to their employees.  Affordable means that the employees cost for their portion of the health insurance can be no more than 9.5% of that employees annual W-2 Wage. 

Example: an employee making $25,000 per year times 9.5% equals $2,375 per year or $197.91 per month as the maximum they can contribute to their individual health care costs.  This is for employee coverage only and there is no limit to the cost for the dependent care. If the 50+ employer does not provide affordable coverage, they then will be subject to IRS Penalty, which is due to start in January 2015.

• Small Group Employers from 2 to 50 Full-time Equivalent Employees are NOT required to provide affordable health insurance coverage to their employees.  However if a small group employer does offer “Affordable Health Care”, then an employee and/or their dependents will not be able to participant in the Federally Facilitated Market Place and receive any premium subsidies even it they are eligible by their income level.

For more details or to calculate your possible Premium Subsidy under the ACA, you can contact us at 419-358-8565, website at www.steinerandgranger.com or our Private Exchange Site at https://www.ohiex.com/?BrokerID=16

This information is base on the current interpretation of the ACA as of Aug. 26, 2013, and may be subject to change as HHS and CMS continues to rollout the final legislative details.