October 2013 > The ACA Marketplace and Your Health Coverage
Important ACA Marketplace Information
The Affordable Care Act Marketplace and Your Health Coverage
The new Health Insurance Marketplace established by the Affordable Care Act (ACA) is a primary component of federal health care reform. On October 1, 2013, the first enrollment period begins for the Marketplace, also known as the Exchange, which is a way for uninsured or other individuals to explore healthcare options and shop for medical insurance.
The UT SELECT Medical plan is still being offered to all benefits-eligible employees, retirees, and their dependents. Your coverage is not changing and no action is required to continue your enrollment in the UT SELECT Medical plan.
Your UT SELECT Coverage and Premium Sharing
Full-time benefits-eligible employees and all retirees pay no monthly premium for the member-only portion of the UT SELECT Medical plan. Part-time employees pay a reduced premium. However, should you decide to drop UT SELECT coverage to purchase health insurance through the Marketplace, you will no longer be eligible for employer contributions (premium sharing) while covered through the Marketplace.
The above information along with additional details and frequently asked questions is available on the Affordable Care Act section of the UT System Office of Employee Benefits website.
ACA Exchange Notice
All employers, including UT System, are required to send written notice to all employees (including working retirees) alerting them to the new Marketplace. All current employees and return-to-work retirees should receive the ACA Exchange notice by October 1, 2013, via email or US Mail. Please note that non-working retirees will not receive an ACA Exchange notice from UT System. More detailed information about the Marketplace can be found by visiting www.Healthcare.gov.