With a new administration and Congress setting up shop in 2017, many are questioning the future of the Affordable Care Act (ACA) and the health insurance marketplaces it created. In California, there’s been a lot of confusion and misinformation about what this means for the state’s health insurance marketplace, Covered California, and enrollment options for 2017. We’re here to help set the record straight.
Here are a few key points to keep in mind when it comes to the healthcare law and coverage options for next year.
- The ACA is federal law, and it cannot be changed or repealed without an act of Congress. Unless the new administration and Congress develop a new direction, the health insurance marketplaces like Covered California and Healthcare.gov will continue with normal operations for the foreseeable future.
- Financial assistance made available through the ACA is protected under the law, which means entrepreneurs and employees are still eligible for tax credits or subsidies to help offset the cost of their premiums.
- If you purchase a plan for 2017 through Covered California, no matter what lawmakers do going forward, you are guaranteed to receive health insurance coverage from the carrier you selected.
For those reasons, California small business owners and their employees should continue to shop for coverage for 2017. Enrollment through Covered California for individual and family health plans is open now through January 31, 2017; meanwhile, enrollment for small business group coverage is open year-round.
If you’re a small business owner in California looking into your coverage options for next year, the state’s health insurance marketplace for small employers, known as California Covered for Small Business (CCSB), is an excellent resource for finding affordable coverage. And it offers some significant benefits for small businesses. For example, qualified businesses that buy through the program can earn tax credits to help cover their costs. To learn more about your coverage options through CCSB, visit their website.
Has the Affordable Care Act had an impact on your business and its bottom line? Has your business qualified for the small business healthcare tax credit? Or are you a self-employed entrepreneur who was able to get covered through the individual marketplace?