Will the Affordable Care Act Affect Group Health Insurance in Virginia?

Since its public disclosure, the Affordable Care Act, commonly known as Obamacare, has been through a lot of fire and scrutiny from American employees and employers alike. Those who have group health insurance in Virginia have become increasingly worried about how the passing of the law will affect their existing coverage. Here are some public opinions regarding Obamacare:

Employer Notices

Many large and small businesses have already seen to it that their employers be informed that the new rules regarding their insurance systems have been implemented. Nevertheless, the actual changes will not be occurring until 2015, where employers of large companies with more than 50 employees have a responsibility (not a mandate) to offer all employees insurance under the penalty of a fine.

Coverage Cutbacks

This necessitates some employers to adjust or completely modify their entire insurance coverage. This isn’t necessarily a bad thing, because although some choose to shift a portion of the cost to the employees (leading to larger deductibles), others see this as an opportunity to teach their employees to evaluate their behavior regarding health-related expenses.

Part-Time Workers

On the side of the employer, worry comes in the form of possible coverage for part-time workers. You don’t have to fret in this case, as there is nothing in the new law that pertains to this. Essentially, the law defines a part-time worker as one who works less than 30 hours in a week.


NPR.org also has this to say about how the new law will affect COBRA rates:

Whether your COBRA rate will go up depends entirely on what happens with your former employer’s health insurance plans. If their rates go up, so will yours. You’ll likely see a higher increase than your former co-workers, however. That’s because their premiums may be subsidized by the employer, whereas yours are not.

All in all, your insurance rates will increase to varying extents depending on your situation as an employer or employee. Nevertheless, there are companies like Financial Brokerage Services, Inc. that can offer your workplace an affordable and comprehensive Virginia group health insurance. Companies like these provide professional assistance when it comes to employee benefit programs, corporate financial planning, and wealth management.

(Article Information and Image from FAQ: How Obamacare Affects Employers And How They’re Responding, NPR)