This insurance is an employee benefit, and most employers provide choices for medical, dental, and vision coverage. Employers pay part of the plan, and the employees’ portion is usually deducted directly from a paycheck. The plans and prices can change from year to year and vary significantly from employer to employer.
Who is eligible for employer insurance?
In Michigan, employers with more than 50 employees are legally required to provide employees with healthcare coverage.
Businesses with 50 employees or fewer must provide information about Marketplace coverage.
You should choose employer-sponsored coverage over the Marketplace if it is considered affordable and is considered Affordable Care Act (ACA) compliant. If it is, then you won’t qualify for extra tax credits and savings through the Marketplace.
If the plan offered does not meet these standards, the Marketplace may be more cost-effective and cover more services.
If your income is below 217% of the federal poverty line (FPL), your children may qualify for Medicaid. Adults with income below 138% FPL may also qualify for Medicaid, which can provide additional coverage.
How do I enroll in employer insurance?
It’s easiest to enroll in an employer-sponsored plan when you begin a new job. Ask your hiring manager or human resources department about the process. Businesses also set aside time each year for people to sign up—a period also known as open enrollment.