Affordable Care Act (Healthcare Reform) and Multicultural Populations cont.
We continue our 12 part blog series on the Affordable Care Act and Multicultural Populations.
Marketing and ACA – Part 2
By Martha C. Rivera, Director, Strategy and Insights, and Beata Luczywek, Junior Executive
There are two plans specified in the Affordable Care Act (ACA) bill that are of particular interest to those interested in potential marketing opportunities: Individuals, and Small Group. Also, changes in Medicaid might have a huge impact in multicultural populations. To be eligible for Medicaid, family income must be at or less than 138% of the federal poverty level and you must be less than 65 years old. Each state is left to determine the type, amount, duration, and scope of services that are offered by their Medicaid programs. Federal guidelines require a certain mandatory minimum of benefits.
Since the ACA will be effective by January 1, 2014, both uninsured subsidized and unsubsidized individuals will have to find an insurance plan on a state based Exchange (to be discussed in Part 4 of our blog on Affordable Care Act and Multicultural Populations) or pay a penalty. A state-optional program, the Basic Health Program, for individuals between 134-200% of the federal poverty level, will be provided to support those who might not be able to afford the programs offered on the exchange. Small group plans are available for those individuals that work for small businesses—defined as having up to 50 employees who are paid an average annual wage of less than $50,000. Then this business will be eligible for a tax credit of up to 35% (25% for non-profits) to offset the cost of insurance.
Look for Part 3 of our Affordable Care Act and Multicultural Populations in a future blog.
Sources:
http://www.healthcare.gov/law/full/
