In October, Solopreneurs invited a speaker to talk about the impact that the Affordable Care Act will have on self-employed people, specifically. Our own Jenny Larson, convener of the Solopreneurs, put together some highlights of the law for us:
• Coverage starts Jan. 1, 2014
• If you want coverage by Jan. 1, you need to have chosen and paid for your plan by Dec. 15, 2013.
• Open enrollment for MnSure lasts until March 31, 2014. After that, you’ll need to wait for the next open enrollment period (unless you have a Qualifying Life Event, such as marriage, divorce, unemployment).
• Only through MnSure can you see if you qualify for tax credits that can lower the cost of private health insurance.
• If you don’t seek out tax credits, and you’re self-employed, your monthly premium will still be a tax deduction for you.
• Contact your doctor BEFORE you shop to find out what plans they participate in (MnSure site also has a listing of doctors covered for each plan)
• You can list your insurance broker on your MnSure application
• No exclusions for pre-existing conditions
• No denial of coverage
• No annual or lifetime limits on coverage
• All plans will now include maternity care, mental health treatment, substance abuse treatment, and vision and dental care for children (these used to be extras)
Lots to learn. If you are interested in finding out how the ACA will affect your business, our general membership meeting this month will address that very topic. Thanks to WRBA and LBA for co-hosting. For more information and to register, visit our Eventbrite page:
