Affordable Care Act
Affordable Care Act ("ACA")
- In 2012, the ACA required that employers report the value for health insurance in Box 12 of the W-2 form.
- On January 1, 2014, the ACA required that all individuals not covered by an eligible employer health plan enroll in a health insurance plan.
- A health care exchange was created by the federal government for the State of North Carolina in 2013.
- The UNC System is required by the Affordable Care Act ("ACA") to provide all individuals receiving W-2 wages (including student employees) with the Health Insurance Marketplace Notice (also known as "The Exchange"). This notice includes general information about "The Exchange", how it works, and the criteria to qualify for a government subsidy to help pay for health insurance coverage through "The Exchange"
- Staff and faculty who want to purchase coverage through the exchange for their dependents may do so, but will not be eligible for the government provided subsidy since Fayetteville State University offers dependent health coverage through the State Health Plan.
- On January 1, 2015, the ACA required that all employers with 50 or more full-time equivalencies provide health care options that meet certain minimum essential coverage criteria to employees who work 30 hours or more per week for three months or more
In January 2015, the employer mandate of the federal Affordable Act ("ACA") went into effect. ACA will require that employers provide health care benefits to most part-time employees. For Universities, the greatest impact will be on:
- Post-doctoral and Graduate RA/TA appointments
- Adjunct Faculty
- Temporary and Part-Time employees
To comply with ACA, the NC General Assembly recently passed legislation to create a new health benefit for non-permanent employees. This new health benefit is called the high deductible health plan ("HCHP"), and provides minimum essential coverage at no greater than the ACA "Bronze" level. The HDHP is available to employees eligible for coverage under G.S. 135.48.40 (e) . In brief, an employee qualifies for the HDHP if he/she has, on average, 30hours of service or more per week during a measurement period. The University conducts the necessary data analysis to determine who meets the eligibility for the new health benefit.
Click here to read more about this High Deductible Health Plan that is offered by the State of North Carolina