ASBA Arizona Business News 4/1/14
Wednesday, April 2, 2014
Posted by: Arizona Small Business Association
HEALTHCARE EXCHANGE EXCEPTIONS
This Arizona business news update is brought to you by ASBA. With a March 31st healthcare law deadline passing, we thought it would be a good idea to clear up any confusion.
If you didn't sign up, all isn’t lost; you can still get coverage outside of the Marketplace. People who go that direction normally wouldn't be eligible for premium subsidies; however, the Obama administration says exceptions will be made for people who had continued problems with enrollment websites.
If you're already covered, you probably don't need to do anything. Even before the law passed in 2010, eight out of ten Americans had coverage through work or Medicare and Medicaid. As far as the deadline, there are exceptions. People who meet the requirements for Medicaid can sign up anytime with no deadline. People remain eligible for Medicare whenever they turn 65.
If you’re insured now and lose your coverage during the year from a job loss, for example, you use the Exchange to find a new policy then. People can sign up outside of the open enrollment period in special situations like moving to another state, or having a baby. The law says people who aren’t covered this year will be fined–That amount is $95 or one percent of income, whichever is higher. The penalty will increase in later years.
ASBA health insurance partner, Meritus, announced that they will be selling individual and family off-Marketplace plans outside the open enrollment period without a qualifying event needed. Go to Meritusaz.com for information.
ARIZONA RANKS NUMBER 10 FOR JOB GROWTH IN THE COUNTRY
A new study released by research professor Lee McPheters at the WP Carey School of Business at Arizona State University has identified the top 10 cities and states for job growth in 2013. According to the report, Phoenix’s non agricultural job growth increased 2.7 percent, ranking 7th nation wide, while Arizona’s overall non agricultural job growth increased 2.1 percent, ranking 10th in the country. McPheters adds, the biggest surprise may be what drove 2013 growth in the number seven Phoenix area, which was hit very hard by the recession.
“What was a surprise was that jobs in information systems, which has to do with the data processing, data storage, and Internet related jobs, Phoenix was number 1 in the country in the rate of growth among all metropolitan areas over six percent.”
For more coverage, click here. This is brought to you by the Arizona Small Business Association.
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