LITTLE ROCK, Ark. (KTHV) - The Affordable Care Act has many people wondering what the best option is for them and their family. What's the difference in an employer-sponsored plan versus the ACA marketplace coverage? Should you stay with the employer's plan or choose a new one?
Cindy Crone with the Arkansas Insurance Department says the ACA healthcare coverage options are and employer-sponsored plans are essentially the same, both offering the same benefits.
"The plans that are offered by the Affordable Care Act Exchange marketplaces are the exact same plans that are offered outside the marketplace," Crone said. "So you have plans that have all of the new essential benefits, they're all the same plans, and the same plans can be offered inside and outside of the marketplace at the same cost. The difference is only those plans purchased through the marketplace are able to get the cost-sharing subsidies, or the subsidies to help pay the cost."
For people who are deciding whether to stay with their current coverage or consider other options, Crone said you're most likely better off staying with your current plan.
"If you buy employer-sponsored coverage, and your employer helps with that, that is pre-taxed and that is to your advantage if the rates are such. So that's why if you have good, employer-sponsored coverage that is affordable, you are best to stay there."
For more information on the Affordable Care Act and getting help, visit http://www.arhealthconnector.org/ . Open enrollment for the new Affordable Care Act insurance programs begins October 1st and runs through March 31, 2014.