minimum essential coverage
DEFINITION: In order to comply with the shared responsibility provision (individual mandate), all Americans must maintain health insurance that is deemed minimum essential coverage, unless they qualify for an exemption.
Plans that qualify as minimum essential coverage include employer-sponsored plans, individual major medical plans (including new ACA-compliant plans, grandfathered plans, or pre-2014 plans that have been extended into 2014), TRICARE, Medicare, most Medicaid plans, and CHIP, among others.
Policies that are not major medical coverage and not regulated by the ACA (including discount plans, limited-benefit plans, critical-illness plans, accident supplements, and dental/vision plans) do not count as minimum essential coverage.
August 14, 2017 – Q. If I don't enroll in a health insurance plan by the end of open enrollment (December 15), what options will I have?
A. In most cases,… Read more
March 31, 2017 – Outside of the Obamacare annual open enrollment window, people without a qualifying event have very few options for purchasing new health… Read more
August 18, 2016 – According to the IRS, 7.9 million tax filers were subject to the penalty for being uninsured in 2014, but 12.4 million were able to claim… Read more
June 8, 2016 – Q. I will be retiring from my job in August and moving to a new state. Do I have to establish residency there before I can apply for ACA… Read more
June 5, 2016 – Q. My son is covered on my employer's policy through July 31, 2016, but because he's about to be 26, he'll have to find his own coverage.… Read more