getcoverednj : I have an Employer offer do i have to take it or can i remain on getcoverednj ?

If your employer offers health insurance that is considered affordable based on the federal calculation, you and or your family will not be eligible for GetCoveredNJ financial help

Families with an offer of employer coverage that is considered unaffordable may be newly eligible for savings on a health plan through GetCoveredNJ, even if they did not qualify before. You should check to see if your family qualifies for financial help

Employer coverage is considered unaffordable if the premiums are more than 8.39% of the family’s household income

In prior years, the affordability calculation counted the cost of employer-sponsored coverage for the employee only, even if the employee was seeking coverage for the whole family (sometimes referred to as the “family glitch”)

Now, if you are trying to get coverage for your family, you can use the cost of family coverage offered by the employer for the affordability calculation

With this new change, families whose employer coverage is unaffordable can now receive financial help through GetCoveredNJ to reduce the cost of coverage (if the household meets other eligibility criteria)

So what does this mean. If you have an employer offer and any plan is considered affordable you must look for a plan from your employer that is affordable otherwise getcoverednj says that you do not qualify for financial help

The financial help is the subsides and cost sharing through the lowering of the monthly premium, deductibles, out of pocket maximums, copays and coinsurance

The implications of remaining on getcoverednj with an affordable offer from your employer will be reconciled at tax time and it is a headache that is not worth it