Health Insurance Marketplaces (Exchanges)

With the passage of the Affordable Care Act, the way that all Americans get and use health care coverage is about to change. Two of the biggest mandates of Health Care Reform go into effect Jan. 1, 2014:

  • A requirement that all Americans have health care coverage, or pay a penalty; and
  • The availability of newly formed Health Insurance Marketplaces (also called exchanges).

We are required to inform you about the creation of the Health Insurance Marketplace, meant to provide a “one-stop-shop” for individuals to compare and purchase private health insurance. For benefits-eligible employees this likely doesn’t apply, since the employer-sponsored health coverage at U.Va. meets the standards of affordability and value outlined in the University’s Marketplace Notice. If you are a temporary or wage employee or not currently benefits-eligible, you may need to purchase health coverage from the Marketplace. It will be useful for you to learn about the new options.

The links on these pages provides general information about the Marketplace, as well as information about health coverage offered by the University of Virginia. You’ll need this if you decide to look at the Marketplace to learn more. The government has its own website, www.HealthCare.gov, which contains extensive information about the Health Insurance Marketplace. If you have questions about the Affordable Care Act Tax Provisions, visit the IRS’s page on the ACA.

Links to Helpful Tools:

University of Virginia Marketplace Notice

Employer Coverage Tool for Staff and Faculty

The YouToons Get Ready for ObamaCare: Health Insurance Changes Coming Your Way Under the Affordable Care Act

About the Health Insurance Marketplace

Things to Think About When Choosing a Health Plan

The Value of Health Insurance

ACA Factsheet

ACA Glossary of Terms

Get Ready to Enroll in the Marketplace

Family Marketplace Application

Individual Marketplace Application

Protect Yourself from Fraud in the Marketplace

Individual Shared Responsibility Provision of the ACA

Premium Tax Credits Available Through the Health Insurance Marketplace and Changes in Circumstances

We hope you find this information useful. We are committed to making sure you are kept well informed of related developments that may affect you. Please don’t hesitate to contact the HR Service Center if you have any questions at 434.982.0123 or AskHR@virginia.edu.

You can read more about the Health Insurance Marketplaces in our Health Insurance Marketplace or Exchange FAQs.