Health Care Coverage Requirement
The ACA requires that all individuals have health insurance beginning January 1, 2014. In addition, insurers are required to cover everyone, regardless of health status or history.
The purpose of the requirement is to make sure people don't wait until they have a health issue to purchase insurance. By bringing healthy people into the covered group, there is a better balance of sick and healthy individuals, and average costs are kept down.
Through the MNsure marketplace, individuals and families can find out if they qualify for public health programs, or for tax credits that will lower the cost of coverage. Small employers with fewer than 25 employees who provide health insurance may qualify for a federal tax credit of up to 50%.
Although employers are not required to offer health insurance to employees, most who employ more than 50 employees will pay an assessment if they don't offer affordable coverage that covers minimum essential health benefits.
Exemptions from the Individual Mandate
You may qualify for an exemption from the requirement to maintain health insurance coverage.