The Patient Protection and Affordable Care Act (ACA) was signed into law in March 2010. One of the ACA requirements is for employers to inform their employees of the availability of coverage through the Health Insurance Marketplace.
The notice provides basic information about the Health Insurance Marketplace coverage options. Because the State of New York offers a significant contribution toward the monthly premium and provides a comprehensive health plan which meets the “minimum value standard” set by the Affordable Care Act, the majority of employees in a benefits eligible position* would not qualify for the tax credit offered through the Health Insurance Marketplace. However, you may be eligible for a tax credit that lowers your monthly premium, or a reduction in cost-sharing, if you are not in a benefits eligible position.
Additional information about the Health Insurance Marketplace may be found at www.nystateofhealth.ny.gov.
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