What Is the Minimum Value for Employers?

Video Transcript: The Minimum value is a standard of minimum coverage that applies to…Read More

Video Transcript:

The Minimum value is a standard of minimum coverage that applies to job-based health plans. A health plan meets the minimum value if it’s designed to pay at least 60 percent of the total cost of medical services and its benefits include substantial coverage for physician and inpatient services. Employers with 50 or more full-time equivalent employees must meet the minimum value or pay a penalty.

However, employees can choose a plan that provides a higher percentage of coverage if other plan options are offered.

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