HEALTH CARE REFORM - The Need To Know In Maryland

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If you’re living under a rock, you may not be aware there’s a health care reform going on (despite certain parties in Washington D.C.’s desire to block it.) Whether you think it’s good, bad or have no opinion, we believe you (and all women in business in Maryland) should be informed. The issue of women and health care reform in Maryland (or any state) is an important one because when women are healthy, everyone benefits. When you’re informed, you are also empowered to make better decisions.

With this in mind we’ve gathered a few things to hopefully assist you in weeding through the rhetoric, the drama and the noise and save you time.

Let’s start with the facts…

What are “The Deadlines” I need to be aware of?

According to a very nifty site we discovered – Maryland Women’s Coalition for Health Care Reform – Here are the deadlines you need to be aware of:

Key Dates:

JANUARY 15, 2014: Deadline for payment to be received by insurance carrier for coverage retroactive to January 1, 2014. Payments should be made by credit or debit card to ensure prompt attention.
JANUARY 21, 2014: Special deadline for consumers who had trouble enrolling in 2013. Enroll by 5 p.m. on 1/21, pay both January and February premiums by 2/15, and your insurance is retroactive to 1/1/14. Submit bills to the insurance carrier for reimbursement. Call 855-642-8672 for more information.
JANUARY 31, 2014: MHIP federal program ends.
MARCH 31, 2014: The end of the first open enrollment period for Qualified Health Plans. After this date there will be a penalty for those eligible but not enrolled. [Note: Medicaid enrollments are on-going throughout the year]
MARCH 31, 2014: MHIP Plus program ends.
NOVEMBER 15, 2014 – JANUARY 2015: Second enrollment period for Qualified Health Plans.
DECEMBER 31, 2014: MHIP Standard program ends.

The site is a great starting point to find that will be useful to women particularly (but we think anyone who checks it out will benefit.) Find out more by clicking here.

What is the “Health Care Marketplace Profile” in Maryland? (and why you should care)

Every state’s marketplace is going to be unique, the Henry J. Kaiser Foundation has a great overview of ours with who the players are, what the fine print is, who is on the board, etc. Check it by clicking here. By having a bit more knowledge about how this whole thing works, you can again be empowered to make better decisions for your business, or you and your family.

What Employers NEED TO KNOW:

Since January 1, 2014, if you’re an employer with under 50 FULL TIME employees, and you are not CURRENTLY offering the standard minimum essential coverage you MAY have to provide it in the future, or pay a PENALTY.

Worried how much of a penalty you might be liable for ? Click this PENALTY calculator to find out.

Don’t have 50 employees and wonder how this affects you? Small employers with 25 or fewer full-time employees will be eligible for the Small Busin ess Health Care Tax Credit. Click here to see if you will be eligible and how to claim the credit.

What Employees NEED TO KNOW:

See above – based on how many employees in your place of business, your employer may or may not have to provide you with health insurance. To find out more go to Maryland Health Connection. While you are there, check out their nifty Small Business Tax Calculator.

SELF – EMPLOYED?

According to “HealthCare.gov” ….

If you run an income-generating business with no employees, then you’re considered self-employed (not an employer) and can get coverage through the Marketplace. You’re not considered an employer even if you hire independent contractors to do some work.

If you have employees (generally, workers whose income you report on a W-2 at the end of the year) you’re considered an employer. Then you could get coverage for yourself and your employees through the SHOP Marketplace, or the Maryland Health Benefit Exchange.

Learn more about how to determine if you have employees.

Good luck!