coverage mandate

Companies are going to face fines next year if they don't comply with a mandate to provide health insurance to employees. In order to avoid $2,000 penalties per employee, some companies are trying to enroll low-wage employees in Medicaid or to offer "skinny" plans that cover preventive care but exclude major benefits like hospital coverage, the Wall Street Journal reports. Employers, however, can face a different $3,000 fine for workers who opt out of the "skinny plans" and get federally subsidized plans through an insurance exchange. Other employers are reducing the number of workers who are eligible by keeping their hours below 30 a week.

Now that American consumers can start shopping for private health insurance through exchanges, the Washington Post has a great explainer on how the exchanges will work. 

Some things I learned that I didn't know:

1. If folks can't find an affordable plan, they don't have to buy coverage if it's more than 8% of their income.

2. The proportion of people who won't be affected by the law is higher than I thought. Only 20% of Americans don't get insurance from employers or the government and will need to access the exchanges.

3. Smokers have to disclose their tobacco use and will be charged extra for their health insurance.