Health Care Reform notice.
An Important Notice About Your Medical Options
The Affordable Care Act (ACA) — or health care reform — requires most Americans to have medical insurance for at least nine months, or pay an extra tax. To assist you as you evaluate options for you and your family, this notice provides some basic information about the Health Insurance Marketplace and your JetBlue-provided benefits.
What does this mean?
JetBlue offers medical plans that will satisfy the ACA requirements. However, you will also have the option to choose medical coverage from your state’s online Marketplace. This is where people can purchase health insurance policies from private insurance companies. If your state declined to develop a Marketplace, the federal government will provide it.
What is the Health Insurance Marketplace?
The Marketplace is designed to help you find health insurance that meets your needs and fits your budget. The Marketplace offers “one-stop shopping” to find and compare private health insurance options. You may also be eligible for a kind of tax credit that lowers your monthly premium right away. Open Enrollment for health insurance coverage through the Marketplace begins in October for coverage starting as early as January 1, the following year.
Who buys from the Marketplace?
If you’re eligible for JetBlue’s Full-Time Medical Plan, feel free to explore the options available through your state. Keep in mind that JetBlue pays a significant portion of the cost of your coverage and you’re not taxed on that. Except for unusual circumstances, you won’t be eligible for federal premium assistance to help pay the cost of a Marketplace policy because JetBlue’s Full-Time Medical Plans meet government standards for coverage and affordability.
If you’re not eligible for Full-Time Medical with JetBlue, then you can purchase coverage for you and your eligible dependents through your state’s Marketplace. You may also be eligible for federal premium assistance to help pay the cost of a marketplace policy, depending on your household income, size and if coverage is available to you through your spouse or even a parent (if you’re under age 26).
Can I save money on my health insurance premiums in the Marketplace?
You may qualify to save money and lower your monthly premium, but only if your employer does not offer coverage or offers coverage that doesn’t meet certain standards. The savings on your premium that you’re eligible for depends on your household income.
Does employer health coverage affect eligibility for premium savings through the Marketplace?
Yes. If you have an offer of health coverage from your employer that meets certain standards, you will not be eligible for a tax credit through the Marketplace and may wish to enroll in your employer’s health plan. However, you may be eligible for a tax credit that lowers your monthly premium or a reduction in cost-sharing if your employer does not offer coverage to you at all or does not offer coverage that meets certain standards. If the cost of a plan from your employer that would cover you (and not any other members of your family) is more than 9.5% of your household income for the year, or if the coverage your employer provides does not meet the “minimum value” standard set by the ACA, you may be eligible for a tax credit.1
Note: If you purchase a health plan through the Marketplace instead of accepting health coverage offered by your employer, then you may lose the employer contribution (if any) to the employer-offered coverage. Also, this employer contribution — as well as your employee contribution to employer-offered coverage — is often excluded from income for federal and state income tax purposes. Your payments for coverage through the Marketplace are made on an after-tax basis.
What happens next?
For more information about your coverage offered by JetBlue, please check your Summary Plan Description (SPD). If you have questions on the Health insurance Marketplace or to access an online application, check out the federal government website HealthCare.gov. For questions on JetBlue’s Benefits, contact BlueBenefits directly.
1 An employer-sponsored health plan meets the “minimum value standard” if the plan’s share of the total allowed benefit costs covered by the plan is no less than 60% of such costs.