Do You Have Health Insurance?
Each week both nannies and parents contact Be the Best Nanny Newsletter asking about basic and essential health insurance for nannies and for information about the Affordable Care Act (ACA). We have posted many articles on the topic and nannies tell Be the Best Nanny Newsletter that they prefer being offered health insurance by their employers as a nontaxable form of compensation in lieu of a raise.
Recently more nannies and parents have asked who is required and who is exempt from buying coverage under the ACA (commonly known as Obamacare).
The ACA does not cover every person without health care and does not apply to every kind of insurance. Most individuals and families already have sufficient coverage to satisfy the minimum health insurance requirements of the ACA. Some provisions of the law have already gone into effect, and many more will go into effect in January of 2014. These mandates are important for nannies to take into account.
If you are insured during 2014 by your employer, by your own purchase, by Medicare, Medicaid, any Veterans Administration program, or by a grandfathered plan, then your insurance requirement is satisfied.
You are exempt from the mandate from purchasing health insurance if you are an undocumented immigrant, if you are incarcerated, if you are a member of an Indian tribe, or if you practice certain religions that are opposed to accepting benefits from health insurance. You are also exempt from purchase and penalty if your income is below $9,350 for an individual or $18,700 for a family. You need not spend more than 8% of income for health insurance Everyone not included in the above groups are required to have or to purchase health insurance from government or private providers.
Click here to learn more about finding the cheapest health insurance in your state.
Do you have health insurance?