You've probably heard that health insurance in the United States is
changing.
We will all have new choices and responsibilities.
But don't panic. Starbucks is here to help.
This video will help you understand the changes
and what you need to do. The most important change for most of us is that
beginning in 2014 the Affordable Care Act will require most Americans to have
health insurance
or else pay a tax penalty.
So, let's set aside all the noise about health care reform
and focus on just what you need to do and when. You need to have health
insurance by January 1st.
For partners that are eligible for benefits, the sign-up period for the
Starbucks plans is in August.
For most other options it's between October and December.
At Starbucks we're proud to continue to offer comprehensive,
affordable health insurance. Health care reform doesn't change that.
So, all of us need to health care insurance. Many of us are already covered
so health care reform will not impact you significantly. But let's take a closer
look.
To be eligible for coverage through Starbucks, you must meet the benefits
eligibility requirement
which is working an average of 20 hours a week.
If you meet this requirement, your choices are probably as simple as choosing to be
on a plan from a family member
or signing up for a Starbucks plan. It's as simple as that.
If you do not meet this eligibility requirement, it's important to learn
more about
options created by the Affordable Care Act in a new insurance marketplace.
We'll get to more about that later. Some partners may be eligible for some less
common options.
But most of us will choose from the primary three options: through a spouse or parent, through
through Starbucks
or shopping for coverage on an insurance marketplace. Once what you know what your
options are,
you choose the level of coverage that is most comfortable to you.
There are two main things to understand when shopping for health insurance:
premiums and cost sharing. You pay premiums each month. If you're in enrolled in a Starbucks
plan,
premiums are deducted from your paycheck. Cost-sharing,
such as copays and deductibles, is when you and your health insurance plan
each pay a portion for the health services you receive. The Affordable Care Act
rates a health plan by the value of the coverage you have through your plan
as gold, silver or bronze. A gold plan covers at least
80 percent of a person's typical health care costs. A silver plan
at least 70 percent. A bronze plan at least 60 percent.
In all cases the Affordable Care Act requires that health plans meet certain
coverage level minimums
and have premium rates that are affordable. Starbucks offers partners a
choice
in gold and silver health plans. If you're not eligible for Starbucks benefits,
here's the information you need to know.
An insurance marketplace is a government regulated online site where
you can compare and shop for health insurance plans from many health plan
options.
If you're eligible for Medicaid in your state, the insurance marketplace will show
you that option as well.
When people purchase health insurance on the marketplace,
federal subsidies may be available to lower-income households to help pay for
insurance premiums.
Insurance marketplaces will be open for business starting on October 1st 2013.
Starbucks offers affordable, comprehensive health insurance options.
If you're eligible for the Starbucks plan, you will not be eligible for
federal subsidies in an insurance marketplace.
If you're enrolled in the Starbucks plan, Starbucks will pay most insurance
premiums for you. But in an insurance marketplace,
you have to pay the entire premium yourself.
So what do you need to do?
Remember you must have health insurance beginning January 1st 2014.
If you're eligible for a Starbucks plan, review our options.
If you're not eligible, think about shopping for coverage on an insurance
marketplace.
For the majority of us, it will come down to choosing
one of three options: coverage through a family member, spouse, or parent;
coverage through Starbucks if you're eligible; or shopping for coverage on an insurance
marketplace.
If you're benefits eligible. you can elect coverage during the Starbucks open
enrollment
August 5th through August 23rd. Or in an insurance marketplace starting
October 1st.
It's really that simple.
The Starbucks open enrollment period is August 5th through 23rd.
Insurance marketplaces will open October 1st.
Go to mysbuxben.com for more information on eligibility,
Starbucks benefits and health care reform in general.
And to make your open enrollment elections.