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Insurance Marketplace Coverage Options <br />&Your Health Coverage <br />Form Approved <br />OMB No. 1210-0149 <br />(Expires 2-28-2017) <br />General Information <br />When key parts of the health care law take effect in 2014, there will be a new way to buy health insurance: the Health <br />Insurance Marketplace. To assist you as you evaluate options for you and your family, this notice provides some basic <br />information about the new Marketplace and employment -based health coverage offered by your employer. <br />What is the Health Insurance Marketplace? <br />The Marketplace is designed to help you find health insurance that meets your needs and fits your budget. The Marketplace <br />offers "one-stop shopping" to find and compare private health insurance options. You may also be eligible for a new kind of <br />tax credit that lowers your monthly premium right away. Open enrollment for health insurance coverage through the <br />Marketplace begins in October 2013 for coverage starting as early as January 1, 2014. <br />Can I Save Money on my Health Insurance Premiums in the Marketplace? <br />You may qualify to save money and lower your monthly premium, but only if your employer does not offer coverage, or offers <br />coverage that doesn't meet certain standards. The savings on your premium that you're eligible for depends on your <br />household income. <br />Does Employer Health Coverage Affect Eligibility for Premium Savings through the Marketplace? <br />Yes. If you have an offer of health coverage from your employer that meets certain standards, you will not be eligible for a <br />tax credit through the Marketplace and may wish to enroll in your employer's health plan. However, you may be eligible for a <br />tax credit that lowers your monthly premium, or a reduction in certain cost-sharing if your employer does not offer coverage <br />to you at all or does not offer coverage that meets certain standards. If the cost of a plan from your employer that would <br />cover you (and not any other members of your family) is more than 9.5% of your household income for the year, or if the <br />coverage your employer provides does not meet the "minimum value" standard set by the Affordable Care Act, you may be <br />eligible for a tax credit.' <br />Note: If you purchase a health plan through the Marketplace instead of accepting health coverage offered by your employer, <br />then you may lose the employer contribution (if any) to the employer -offered coverage. Also, this employer contribution, as <br />well as your employee contribution to employer -offered coverage, is often excluded from income for Federal and State <br />income tax purposes. Your payments for coverage through the Marketplace are made on an after-tax basis. <br />How Can I Get More Information? <br />For more information about your coverage offered by your employer, please check your summary plan description or contact: <br />City of Louisville, Human Resources Department. <br />The Marketplace can help you evaluate your coverage options, including your eligibility for coverage through the Marketplace <br />and its cost. Please visit HealthCare.gov for more information, including an online application for health insurance coverage <br />and contact information for a Health Insurance Marketplace in your area. <br />1 An employer-sponsored health plan meets the "minimum value standard" if the plan's share of the total allowed benefit <br />costs covered by the plan is no less than 60 percent of such costs. <br />14 <br />