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Finally – The Family Glitch Fix – Affordable Health Insurance for Dependents

Finally – The Family Glitch Fix – Affordable Health Insurance for Dependents

The “family glitch” is a term for an issue that affected many from 2014 – 2022. It refers to when family health insurance was offered through an employer, and the affordability of the coverage was based on just the cost for the EMPLOYEE and NOT the cost of the dependent (other family members’) coverage. This “affordability determination” directly impacts the amount of upfront savings the entire family is eligible to receive (known as premium subsidies).  With this in place, the employee could either pay full price in the individual market or pay whatever the employer required to cover the family on the employer’s plan.

Under the new rules for ACA (Obamacare) in 2023, dependent coverage is now based on household income!   This new rule will help to make dependent care health coverage more affordable for an estimated millions of Americans.

If your dependent care coverage is higher than the affordability threshold — 9.12% of household income — you have between November 1, 2022 and December 15, 2022 to sign up for coverage that starts January 1, 2023. Open enrollment ends Sunday, January 15, 2023.

Our team is well-versed in the marketplace plans having enrolled Tennesseans for health insurance since 2010. For assistance in determining your affordability and enrolling in a plan for 2023, call us at 731-288-3540 or email:  lh.department@whiteins.net.