What Metal Levels Comply With the ACA?
I am trying to make sure that our Bronze Save plan with Aetna does not qualify toward the minimum wage for our medical benefits. If we have a Bronze Save plan with Aetna, is that the same (not necessarily the same plan but same “level” as a Bronze Metal Plan as defined in the federal Affordable Care Act? In order to qualify our medical plan needs to be the equivalent of a “silver” level or higher and right now we have a Bronze, as described by Aetna. Everywhere on the OBAMACARE FACTS’ site to compare plans appears to be for individuals so I want to make sure, for my business.
Answer
To comply with the law you need minimum essential coverage, all major medical plans bronze, silver, gold, and platinum offered by major insurers comply. This is true for employers offering plans and individuals buying plans.
By Bronze Save plan, you mean a qualifying bronze plan that due to the higher deductible is HSA compatible. You can 100% offer this to your employees and both you and them will be covered.
Aetna offers bronze plan equivalents both on and off the marketplace and offers them as part of group health plans too. The only thing to remember is that as employer you have to offer group health plans and not individual health plans.
Although health insurance is part of an employe's wage, from what we understand you must first offer at least the minimum wage and then offer health options on top of that.
Learn more about minimum wage requirements from the Department of Labor.
You can learn about specific requirements for group health plans on our employer mandate page.
Learn more about employer healthcare arrangement options.