What Will This Cost?

posted on March 02, 2009 12:18

Employers must pay at least 50 percent of the employee’s premium.

The Access to Health Insurance program will pay up to $100 a month for each adult (employee or spouse) and up to $300 a month for minor children.

Employees must pay the balance after the employer portion and the premium assistance are paid. The employee also is responsible for deductibles and co-pays.

What will the exact cost be for the employer?

Employers must pay at least 50 percent of the employee’s premium.

The exact dollar amount of the premium depends on several factors. The best way to be certain of your costs is to talk with an insurance representative.

I will have to pay a portion of my employee's premiums. What are the advantages to me?

Here's what this program can do for you:

Attract and retain qualified employees by giving them access to affordable health insurance.
Improve employee satisfaction and health.
Decrease absenteeism and increase productivity.
Increase participation rates in the company health plan, which might help maintain qualification for group insurance coverage.

What does this cost the employee?

The exact cost of the health insurance plan you will be offered is difficult to predict. However, here are some things you can count on:

Your employer must pay at least 50 percent of your premium.
The Access to Health Insurance program pays the insurance carrier up to $100 a month for you and up to $100 for your spouse, if you qualify for premium assistance.
Each minor child you enroll is qualified for up to $100 a month in premium assistance, with a maximum assistance of $300 a month for all children.
You are responsible for paying any premium that remains after the premium assistance and your employer’s portion of your premium are paid.
You are responsible for any deductibles and co-pays outlined in your plan.

Can you give an example of what this may cost?

Here’s an example of what this might cost if you, your spouse, and two children choose to participate.

What It May Cost You
Family Members	Total Premium Rate/Month	Employer Pays/Month (at 50%)	Premium Assistance/Month	Amount Employee Owes/Month
Employee	$350	$175	$100	$75
+ Spouse	$350	$0	$100	$250
+ 1 Child	$100	$0	$100	$0
+ 1 Child	$100	$0	$100	$0
Totals	$900	$175	$400	$325
Figures are examples only and may not represent actual costs. The cost of health insurance plans, the percent the employer chooses to pay, and the resulting premium assistance will vary.

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