Health Care Reform
The Affordable Care Act (ACA) expands access to affordable, quality health care for millions of Americans. You should be aware of the following ACA provisions when you make medical coverage choices.
- All U.S. citizens and legal residents, with a few exceptions, are required to have “minimum essential coverage” or pay a penalty when you file your income taxes. Coverage under any medical plan option offered by Barnes Group will satisfy this requirement.
- Other types of coverage that meet the requirement include plans provided by another employer, Medicare, Medicaid or individual health insurance you may purchase through Health Insurance Exchanges.
The government-run Health Insurance Exchanges allow shoppers to compare a set of health insurance plans side-by-side based on price, benefits, quality, and other features. Those without access to affordable health coverage through their employer that meet certain minimum coverage, affordability and value standards may qualify for a subsidy or tax credit to help lower their premiums through the Health Insurance Exchange in their state.
Since Barnes offers health coverage that meets the required standards of coverage, affordability and value, you will NOT be eligible for government subsidies if you purchase coverage in the Health Insurance Exchange in your state.
Visit www.HealthCare.gov for more information on Health Insurance Exchanges in your state.