U.S. Health Care Reform & Starbucks Benefits Options

U.S. Health Care Reform & Starbucks Benefits Options


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.

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