Healthcare Reform in 2014 Adds New Coverage Options for Family Businesses and Farms

 

Healthcare Reform in 2014 Adds New Coverage Options for Family Businesses and Farms

            Under changes coming in Healthcare Reform for 2014, owner operators of family businesses and farms may have new options for purchasing affordable healthcare coverage. Under the new laws Iowa farmers and other owner operators may shop on the Federal Health Insurance Marketplace to find health insurance plans and possibly qualify for tax credits.

Individual Tax Credits (for family farmers and business owner operators):

  • Are based on income not wealth, so having large asset holdings such as farm equipment and farmland will not act as a bar to assistance.
  •  May be claimed in advance to lower monthly insurance premiums.
  • Can be applied for at HealthCare.gov, using a paper application, through a certified application counselor, navigator, or an agent or broker certified by the marketplace. 

Small Business Health Insurance Tax Credits in 2014 and beyond:

  •  Are available for Small Businesses that pay for half or more of their employee’s health insurance premiums, have less than 25 employees, and pay less than $50,000 in average for employee salaries.
  • Can be as high as 50% of the premium paid by the small employer.
  • The credits are available for 2 consecutive years starting in 2014, but may still be claimed for tax years 2010-2013 (the formulas and rules are different for years 2010-2013).
  • Can be applied for at HealthCare.gov/small-business/ starting November 1, 2014 or by using a paper application, through a navigator, or an agent or broker certified by the marketplace.

The Iowa Insurance Division is holding a series of statewide public meetings to go over changes in healthcare laws staring in 2014. The Division invites the public to attend these meetings to learn about responsibilities, such as the requirement to have coverage or face a tax penalty, and opportunities, such as tax credits, under the new law. These meetings are an excellent change to get straight answers from Iowa officials. Please see the meeting itinerary for the meeting nearest you!

Iowa Insurance Division – Meeting Itinerary

Thursday, October 24, 6:30 p.m.

Chariton

Consumers

Chariton City Community Center

915 Osage Ave.

Saturday, October 26, 10:00 a.m.

 

Burlington

Consumers

Burlington Public Library

210 Court St

Tuesday, October 29* 6:30 p.m.

 

Sioux City

Consumers

Mercy Medical Center, Leiter Room

801 Fifth Street

Saturday, November 2, 10:00 a.m.

 

Spencer

Consumers

Hy-Vee Spencer, Club Room

819 Grand Avenue

Monday, November 4, 6:30 p.m.

 

Storm Lake

Consumers

Buena Vista Regional Medical Center, Kallmer Education Center,

1525 W. 5th Street

Wednesday, November 6, 6:30 p.m.

Carroll

Consumers

Carroll High School, Media Center

2809 North Grand Road

Thursday, November 7 Noon

 

Atlantic

Employers

Cass County Community Building

805 W. 10th St.

Saturday, November 9, 10:00 a.m.

 

Davenport/

Bettendorf

Consumers

Davenport Library, Eastern Ave. Branch, 6000 Eastern Ave, Davenport, Meeting Rooms A&B

Tuesday, November 12 Noon

 

Clinton

Employers

Mercy Medical North Campus Meeting Room A

1410 N 4th St, Clinton Iowa

Wednesday, November 13, 6:30 p.m.

 

Clarinda

Consumers

Lied Public Library

100 E Garfield St

Saturday, November 16, 10:00 a.m.

Elkader

Consumers

Central Community School Auditorium

400 1st NW

Elkader, IA

Thursday, November 21*

6:30 p.m.

Ottumwa

Consumers

Indian Hills Community College

Advance Technical Center RM 132

526 Grandview Avenue

 

 

 

 

 

 

 

About the Iowa Insurance Division

The Iowa Insurance Division (IID) has general control, supervision and direction over all insurance and securities business transacted in the state, and enforces Iowa’s insurance and securities laws and regulations. The IID investigates consumer complaints and prosecutes companies, agents and brokers engaging in unfair trade practices. Consumers with insurance or securities-related questions or complaints may contact the IID toll free at 877-955-1212 or visit the Division on the web at www.iid.state.ia.us.

 

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