Moving Over for the Affordable Care Act: Big Companies Dropping Insurance

If you work part-time, has your company dropped you from its insurance? Well, you’re not alone.Recently, Target made a huge announcement that didn’t have anything to do with credit card fraud. According to the Washington Post, the company announced that it will stop providing health insurance to its part-time employers.Target is not the only big company to make this action. Home Depot and Trader Joe’s have too. Why? Well, these companies feel that its employees will prefer the options provided by the Affordable Care Act.Because the Affordable Care Act does not penalize companies for not providing insurance to part-time employees and bars workers from using its subsidies if offered insurance at work, Target and the other big companies thinks their decision is best.A Target blog post explained, “In fact, by offering them insurance, we could actually disqualify many of them from being eligible for newly available subsidies that could reduce their overall health insurance expense.”So, what does the Affordable Care Act offer those that need insurance? Well, by visiting HealthCare.gov, individuals can find plans that cost less than 9.5 percent of income. On the site, there are plans to meet individual’s needs and budgets. Additionally, the Marketplace has links to tips, how to use the new coverage, how to lower costs and information on pre-existing conditions. Hurry, open enrollment ends March 31.Whether you need help deciding which plan is the right fit or if you want to go a different route, contact our health insurance consultants in Atlanta today by calling 404-459-5975. Also, be sure to visit us on Facebook!