110% MAGAZINE ~ winter 2014 (issue 16) | Page 7

If you have coverage from a job (or a family member’s job), you're considered covered and won’t have to pay the fee that uninsured people must pay. You may be able to change to Marketplace coverage, but you might not qualify for lower costs on your premiums based on your income. This will depend on the type and cost of insurance the employer provides. If you have a job-based plan, you’re considered covered Any job-based health plan you currently have qualifies as minimum essential coverage. You don't need to change to a Marketplace plan in order to avoid the penalty that uninsured people have to pay starting in 2014. If you'd like to explore Marketplace coverage options you can, but there are several important things to consider. Comparing job-based and Marketplace plans With most job-based health insurance plans, an employer pays part of your premiums. If you pick a Marketplace plan instead, the employer doesn’t contribute to your premiums. You should consider this carefully before comparing Marketplace plans. 7