Minimum Value Standards

To meet the requirements of the Affordable Care Act Affordable Care Act
The Affordable Care Act (ACA) is a comprehensive health care reform law enacted in March 2010. The health care law offers rights and protections that make coverage more fair and easy to understand. Some rights and protections apply to plans in the Health Insurance Marketplace or other individual insurance, some apply to job-based plans, and some apply to all health coverage. The protections outlined below may not apply to grandfathered health insurance plans. , health coverage provided by employers must cover at least 60% of an employee’s health care costs in a given year. For example, if an employee has $1,000 in health care expenses, the plan must cover at least $600 and the employee is responsible for paying the remainder through deductibles, co-pays and co-insurance co-insurance
The amount you pay for the cost of services after you pay any deductibles. Co-insurance is based on the negotiated rate between the insurance company and health care provider; it is not the provider’s charge. Co-insurance is typically a percentage and is limited by the out-of-pocket maximum or annual limit. . Large employers (50 or more employees) who do not meet the minimum value standards co-insurance co-insurance
The amount you pay for the cost of services after you pay any deductibles. Co-insurance is based on the negotiated rate between the insurance company and health care provider; it is not the provider’s charge. Co-insurance is typically a percentage and is limited by the out-of-pocket maximum or annual limit. are subject to tax penalties.