In 2014 individuals can obtain health insurance without employment. Health insurance whether obtained from your employer or the health insurance exchanges is required to cover the following broad categories:
· Ambulatory patient services
· Emergency services
· maternity and newborn care
· mental health
· substance abuse disorder service
· behavioral health treatment
· prescription drugs
· rehabilitative and habilitative services and devices
· laboratory services
· preventive and wellness services
· chronic disease management
· pediatric service
Health insurance exchanges are being set up in four major categories:
Bronze Plan – plan will cover 60% of health care costs.
Silver Plan -- plan will cover 70% of health care costs.
Gold Plan -- plan will cover 80% of health care costs
Platinum Plan – plan will cover 90% of health care costs
The health insurance exchange premiums are estimated to range between $300 – 600 for the varied plans. Additionally, individuals may qualify for federal subsidies to help pay for insurance.
The individual penalty is the greater of $95 and $47.50 per respective adult and child listed on the 2014 income tax return or 1% of annual income.
For large employers, 50 or more employees, the shared responsibility payment, which is the requirement that the employer offer insurance, has been delayed until 2015.