At the beginning of the year, my income estimate for 2023 was $0 (unemployed). So I got a plan through the Marketplace, APTCs, and a subsidized Covered CT plan. But now:
I started a new job in November. My employer is offering health coverage. My share is only at 25%, $70.73 bi-weekly. I am being paid bi-weekly $1260 before taxes ($18/hr x 35 hours a week). My estimated income for 2023 is $4410. I haven't enrolled on their plan yet.
I informed Access Health CT about my employer coverage offer and income increase but they still deemed me eligible for APTCs for December 2023 and I can continue with my subsidized plan until December 31, 2023. Why do I qualify for APTCs? It doesn't make sense to me.
And they are sending this letter to my employer:
Please read this entire notice as it contains important information about the Employer Shared Responsibility requirement under the Affordable Care Act (also known as the “Employer Mandate”).
You are receiving this notice because one of your employees, Some-Break-9347, applied for health coverage through Access Health CT and was determined eligible to receive financial assistance in the form of Advance Premium Tax Credits (APTCs) to help pay for their health insurance coverage. The employee was determined eligible for APTCs based on his or her attestation that you, as their employer, do not provide health insurance coverage that is affordable and meets minimum value.
If you are considered a small employer, you are not subject to the Employer Mandate with respect to any employer-sponsored health insurance coverage you may offer to your employees and their dependents.
What is the standard for Affordability for an employer-sponsored plan?
A plan is deemed to have met the standard for affordability if the monthly premium cost for only the employee, not including the cost for any dependents, is less than or equal to 8.39% of the employee’s household Modified Adjusted Gross Income (MAGI) for the year.
What is the standard for Minimum Value for an employer-sponsored plan?
A plan is deemed to have met the standard for minimum value if the plan offered to employees and their dependents covers at least 60% of the total allowed cost of medical services and includes coverage of both inpatient and outpatient services.
That doesn't seem to be right. In regards to Minimum Value, my employer share is 75%. About Affordability, my contribution is $70.73 bi-weekly which is less than 8.39% of my bi-weekly income (8.39% is about 105$)
Am I missing something here? I would like to stay another month with my health plan but don't want to owe money…
submitted by /u/Some-Break-9347