On May 23, Covered California announced that 13 health insurance plans will compete to provide coverage to millions of Californians through the state’s new health exchange.
Covered California is California’s new health insurance marketplace and was established under the Affordable Care Act (ACA). It will help individuals and small businesses compare health plans, get answers to questions, find out if they qualify for federal tax credits and enroll in a plan that meets their specific needs.
Starting in 2014, employers with 50 or more full-time or “full-time equivalent” employees during the previous calendar year must offer at least minimum essential health care coverage or pay a penalty.
Available Health Care Plans
According to Covered California, the plans reflect a mix of large non- profit and commercial plan leaders, along with well-known Medi-Cal and regional plans.
This tentative selection of health plans is subject to a rate review by state regulators.
In the news release, Covered California explains that it is difficult to make a direct comparison of these rates to existing premiums in the commercial individual market because in 2014, there will be new standard benefit designs under the ACA, and the actual change in an individual’s premium will depend on the person’s current insurance coverage.
Please visit CalChamber.com for full coverage.