Rhode Island Affordable Care Act laws & HR compliance analysis

Rhode Island Affordable Care Act: What you need to know

The Affordable Care Act (ACA) created a system of healthcare exchanges (or “marketplaces”) to provide individuals and small employers with access to affordable insurance coverage beginning January 1, 2014. The exchanges are supposed to make it easy for small businesses and individuals to compare healthcare plans, receive answers to their questions, find out whether they are eligible for certain tax credits and/or health programs, and enroll in a healthcare plan that works for them.
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States had the flexibility to design and operate exchanges that best met their unique needs while complying with ACA’s statutory and regulatory standards. All the states had to make a choice regarding what kind of exchange they wanted. Basically, the states could:
• Build a fully state-based exchange;
• Default to a federal exchange (often referred to as a “federally facilitated exchange”); or
• Enter into a state partnership exchange with the federal government.
Each state had to establish an exchange where individuals can go to buy coverage, but the states also had to set up Small Business Health Options Programs (SHOPs or SHOP exchanges) where small businesses can purchase coverage.
Rhode Island decided to create its own state-based exchange, called HealthSource RI, instead of having the federal government run one.
HealthSource RI also offers a SHOP marketplace for small businesses. HealthSource RI’s website notes that employers and brokers can use its Insurance Selector to provide employees with more choice by selecting the Full Employee Choice model.
• 2015: SHOP Marketplace is open to employers with 50 or fewer full-time equivalent employees (FTEs).
• 2016: SHOP Marketplace is open to ...

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Rhode Island Affordable Care Act Resources

Type Title
White Papers Employers must provide notice of health insurance marketplace
See all Affordable Care Act Resources