Office of Human Resources 400 E. Main Street ASB 429 Frankfort, KY 40601 (502) 597-6438 Fax: (502) 597-6439 www.kysu.edu
TO: All Kentucky State University Employees (Including benefit and non-benefit eligible personnel, student workers and adjuncts) FROM: Gary Meiseles Director of Human Resources DATE: September 26, 2013
FROM: Gary Meiseles Director of Human Resources
DATE: September 26, 2013
SUBJECT: NEW Health Insurance Marketplace (Exchange) Coverage Options and Your Health Coverage
The Federal Patient Protection and Affordable Care Act (PPACA), requires that by October 1, 2013, we provide you with the information found in the attached notice.
It is the opinion of our broker, Assured NL Insurance Agency, Inc. that Kentucky State University offers a health plan option that meets the minimum value standard and the cost of this coverage to you is intended to be affordable and that you would not qualify for a subsidy or premium discount.
In 2014, the health care reform law creates a new type of online marketplace for purchasing health insurance coverage. This marketplace is referred to as a Health Insurance Marketplace, or an Exchange.
“Even if your employer intends your coverage to be affordable, you may still be eligible for a premium discount through the Marketplace (Exchange). The Marketplace (Exchange) will use your household income, along with other factors, to determine whether you may be eligible for a premium discount. If, for example, your wages vary from week to week (perhaps you are an hourly employee or you work on a commission basis), if you are newly employed mid-year, or if you have other income losses, you may still qualify for a premium discount.”
If you purchase coverage through a Marketplace/Exchange, you may be eligible for a federal subsidy that lowers your monthly premiums or reduces your cost sharing. However, to receive these federal savings, you cannot be eligible for health plan coverage through the university that is affordable and provides "minimum value."
The availability of coverage through the Marketplace does not affect your eligibility for coverage through Kentucky State University.
The enclosed notice provides information you will enter if you visit healthcare.gov to find out if you can get a tax credit to lower your monthly premiums. More information on the health care reform law and the Marketplace/Exchange is available at www.healthcare.gov or www.kynect.ky.gov.
Also, please note that “affordable care” is a term used by the Federal Government and does not reflect the opinion of Kentucky State University as to affordability of the Kentucky State University provided health care insurance program.
Inspiring Innovation. Growing Leaders. Advocating Kentucky. Kentucky State University is an equal educational and employment opportunity affirmative institution