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How Skinny Can You Go? Affordable Care Act Strategies

All companies with more than 100 full-time eligible employees must provide Minimum Essential Coverage (MEC) and offer a Minimum Value Plan (MVP) in order to be compliant with the Affordable Care Act in 2015 and avoid penalties. For many employers in service industries, this may be the first time coverage is offered to all full-time eligible associates, which can be a financial challenge. Fortunately for them, a MEC plan can be much more affordable for the company than jumping straight into a community rated, fully-insured program, where average premiums exceed $300 a month.

MEC’s (commonly referred to as ‘Skinny’ plans) can be much less expensive, running on average about $100 to $120 a month per employee with most of the plans we have reviewed in the marketplace. That is until now. At Polaris Benefit Administrators and Simplifi Benefit Solutions, we have developed a MEC that is self-funded and includes one of the best provider networks in the state, with Medical Mutual of Ohio. This will make our MEC the skinniest plan available in the marketplace with actual incurred costs well below the $100 price point with all other options.

Additionally, because our plan is self-funded, our MVP is also a much more affordable option which combined with our MEC is 100% compliant with the large employer ‘pay or play’ mandates under the ACA. So how skinny do you want to go? Check out the orange link below then contact Doug Helser today to find out how our MEC is the leanest in the marketplace.