MEC PLANS

 

   

 

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MEC Plans Help Employees Avoid The Individual Mandate Penalty



Minimum Essential Coverage - Preventive Only (MEC) plans allow employers to offer qualifying coverage to their employees on a self-funded basis, which satisfies the individual mandate. Our plan covers 100% of the CMS listed preventive services when utilizing an in-network provider.



If you don't have coverage, you'll pay the higher of these two amounts:
 
  • 2.5% of your yearly household income. (Only the amount of income above the tax filing threshold, about $10,000 for an individual, is used to calculate the penalty.) The maximum penalty is the national average premium for a bronze plan.
  • For tax year 2016, the penalty rose to 2.5% of your total household adjusted gross income, or $695 per adult and $347.50 per child, to a maximum of $2,085. For tax year 2017 and beyond, the percentage option will remain at 2.5%, but the flat fee will be adjusted for inflation.

MEC plans help employers meet one of the Employer Mandate penalties. By offering this level of qualifying coverage, employers will meet the requirement of offering "qualifying" coverage but not the requirement of "affordable" coverage. Employers must offer a Minimum Value Plan that meets the 60% Actuarial Value rule and affordability rules in order to avoid a $3,390 tax penalty for each employee who enrolls in a plan from the Exchange and receives a tax subsidy.


Our MEC plan allows employers to offer affordable benefit options to all employees. Utilizing the same administrative platform as our fixed indemnity benefits, we can provide customized employee communication, online and call center enrollment, payroll-cycle billing and online missed premium administration. All of this together means that providing affordable benefits is easy for employers.

 
 
 
   

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