Affordable Care Act Open Enrollment
The first two sessions of the Affordable Care Act (ACA) open enrollment have ended, but there is still one more session remaining. Are your independent contractors preparing themselves and are they in a compliant solution? If an individual chooses not to comply, they will be responsible for an annualized penalty of $325 or 2% of Adjusted Gross Income (whichever is greater) that will be due when their 2015 taxes are filed. TrueChoices continues to provide a compliant and legal solution for independent contractors, through the TrueChoices MarketPlace, by offering Individual Major Medical solutions that meet ACA requirements. Highlights include:
- Plans are integrated with our current TrueChoices offering.
- There are several options available in all states. (Insurance carriers and deductibles.)
- If eligible, TrueNorth independent contractors can qualify for federal subsidies.
- One-on-one consultation with a paperless enrollment process.
- Since the plans are individual solutions, premiums will be direct billed. All other TrueChoices offerings will continue to be settlement deducted.
- Open enrollment for ACA is as follows:
- 11/15/14 - 12/15/14 for a 1/1/15 effective date (closed)
- 12/16/14 - 01/15/15 for a 2/1/15 effective date (closed)
- 01/16/15 - 02/15/15 for a 3/1/15 effective date
- TrueChoices MarketPlace: www.TrueChoicesMarketplace.com
Below you will find the following two documents:
- Click here for the Individual Mandate Tax Penalty Schedule
- Click here for the Tax Penalty Stuffer- you may print and insert in driver settlements. If you would like us to print, please email Lexi Giunta: AGiunta@truenorthcompanies.com
We are here to assist TrueNorth independent contractors with their personal protection needs.
Let us know if you have any questions.
Onward!
Your TrueChoices Team