Te AffordableCare Act: Just the Facts


What the law means for carriers and owner-operators


By JenniFer Barnett reed Contributing Writer


Between changing deadlines and an


abundance of less-than-objective media coverage and advertisements, figuring out what the Affordable Care Act means for you or your company can be difficult. Tis summary takes a look at the law’s requirements for individuals and businesses. Te stated goal of the


Affordable Care Act — also known as Obamacare — is that everyone in the United States will have quality, affordable health care coverage. Two ways the law tries to accomplish that are by requiring that all companies with 50 or more full- time employees offer an affordable health insurance plan with coverage that meets a set of basic standards, and by requiring that every individual who doesn’t get health insurance through an employer or another government program must sign up for a health insurance plan that meets those same standards. So-called “skinny” medical policies — those with very limited benefits — have been common in the trucking industry, but they don’t meet the ACA’s requirements for basic coverage. Te law provides financial help for


people who meet income thresholds to pay their premiums, and sets tax penalties for individuals and businesses that don’t comply.


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INDIVIDUAL OWNER-OPERATORS Te Affordable Care Act’s tax penalties for


individuals apply to anyone who doesn’t have qualified health insurance for at least eight


much, but the penalty will double for people who don’t have health insurance in 2015. Te federal health insurance exchange,


found at www.healthcare.gov, was set up to allow people who need insurance to compare a number of plans that all meet federal requirements for pricing and covered services, and then to enroll in the plan they choose. Te website also provides a lot of information about the Affordable Care Act’s requirements. Te deadline to sign up for


individual insurance this year through the health insurance exchange was March 31. Enrollment will open up again beginning Nov. 15 for individuals to buy coverage to start Jan. 1, 2015. Many owner-operators may be


PHOTO: ISTOCKPHOTO.COM


eligible for subsidies to help pay for insurance premiums. Subsidies are available for income levels of up to about $46,000 for an individual and about $94,200 for a family of four. Individuals who qualify for the subsidies must sign up for a plan offered through www.healthcare.gov. Tose who don’t qualify for subsidies can buy coverage either through the exchange or directly from an insurance company or broker.


months of 2014. So if you don’t currently have health insurance, you’ll pay the penalty next year on your income taxes. Te amount of the penalty is 1 percent of your taxable income over $10,000 (or $400 for someone earning $50,000 per year). Tat may not sound like


SMALL CARRIERS Te ACA doesn’t require companies


with fewer than 50 full-time employees to offer health insurance, but it provides a tool


Continues on page 20 NEBRASKA TRUCKER — ISSUE 2, 2014 — www.nebtrucking.com


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