In the coming months, you will hear more about Health Care Reform from the media—particularly about the state and federal exchanges scheduled to open in October for a January 1, 2014 effective date.
Our UM/Aetna medical plans comply with Health Care Reform requirements; therefore, it is unlikely that full- time UM employees will receive any kind of financial help (subsidy) from the government to pay for coverage purchased from a public exchange. As long as you are enrolled in a UM/Aetna medical plan as a full-time employee, your coverage will meet (or exceed) the mandated affordability and coverage requirements.,
For more information on state health insurance marketplace profiles, please visit www.healthcare.gov. To view the Department of Labor–New Health Insurance Marketplace Coverage Options and Your Health Coverage notice, please click here.
|HEALTH CARE REFORM PROVISION||UNIVERSITY OF MIAMI|
|Starting January 1, 2014, most Americans will be required to have health insurance or pay a penalty. This is called "individual mandate."||As long as you enroll in a UM/Aetna medical plan, you are covered. The University offers comprehensive medical plans to our employees.|
|To be considered qualified coverage, a health plan has to provide a minimum level of coverage called "essential health benefits."||Our medical plans meet or exceed the minimum level of coverage.|
|No limits on essential health benefits. This means that an insurance company cannot set lifetime dollar limits on how much it will pay for essential health benefits.||Our medical plans meet or exceed the level of coverage required.|
|Waiting periods cannot exceed 90 days. This is the period of time that must pass before employer-sponsored health insurance starts.||Our medical plans comply.|
|Federal and state online health insurance marketplaces will hold Open Enrollment starting October 1, 2013. Employers must distribute the Department of Labor–New Health Insurance Marketplace Coverage Option and Your Health Coverage” notice.||We distributed the “Department of Labor–New Health Insurance Marketplace Coverage Option and Your Health Coverage” notice.To view the notice, please visit miami.edu/benefits.|