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Health Care Reform
- How Does Health Care Reform Affect Me?
- Health Care Reform Glossary
- Frequently Asked Questions
- Health Care Reform Timeline
- Health Care Reform Basics
- Accelerating a Better You
- Annual Enrollment
- Protect Yourself
- Fall is a Perfect Time to Understand Your Benefits
- Lockheed Martin Works to Balance Rising Health Care Costs, Business Operations
Frequently Asked Questions
- Eligibility for Lockheed Martin Health Plan Coverage
- Eligibility for Coverage through Other Sources
- Help with Paying for Health Insurance Costs
- Health Care Costs
What is the Individual Mandate?
This means that each American (with certain exceptions) has to have health insurance by January 1, 2014 or pay a penalty.
What happens if I don’t have health insurance on January 1, 2014?
If you don’t have health coverage by that time, you may owe a tax penalty to the federal government. It will apply for every month you don’t have health coverage on and after January 1, 2014, and you will be required to pay this tax penalty when you file your annual federal income tax return.
If I’m covered by a Lockheed Martin health plan, does that take care of the individual mandate for me?
Yes. If you’re covered under a Lockheed Martin health plan on January 1, 2014, you’ll meet the requirements for the individual mandate.
Is Lockheed Martin changing eligibility rules for health insurance?
At least for 2014, we’re not making any changes when it comes to your eligibility for coverage through a Lockheed Martin health plan. U.S. employees working a minimum of 1000 hours a year will still be eligible for coverage.
Can I cover my children under my Lockheed Martin plan?
Yes, you can cover your children up to age 26.
Does health care reform mean I’ll need to give up my Lockheed Martin health insurance?
No. If you currently have coverage through a Lockheed Martin health plan, you can keep it as long as you still work a minimum of 1000 hours per year. If you’re getting your coverage somewhere else (like from the employer health plan of a parent or a spouse/same-sex domestic partner), it’s a good idea to check to see if there are any changes to that coverage for 2014. The important thing is to be sure you’re covered on January 1, 2014 and after.
Eligibility for Coverage through Other Sources
What is a “Health Insurance Marketplace”?
A Health Insurance Marketplace, previously referred to as an “Exchange,” is a place where people can go to buy individual health insurance policies when they don’t have or don’t want health coverage through their employer or from another source (like through a parent’s or a spouse’s/same-sex domestic partner’s health plan). Each state will have its own Health Insurance Marketplace, either set up by the state itself, by the federal government, or by a partnership of both the state and federal government. The Health Insurance Marketplace will offer a choice of health plan options so that people who live in the state can choose the type of plan that works best for their health care needs and their budget.
I’m eligible for Lockheed Martin health plan coverage, but what if I’d rather join my spouse’s/same-sex domestic partner’s plan that he/she purchases through a Health Insurance Marketplace?
You don’t have to enroll in a Lockheed Martin health plan. If you’d rather be covered under your spouse’s/same-sex domestic partner’s plan (through his or her employer or under a plan purchased through a Health Insurance Marketplace), that’s okay. But since you have comprehensive, affordable health coverage available to you through Lockheed Martin, you won’t be eligible for any subsidy from the federal government for coverage purchased through an Health Insurance Marketplace.
If I like a plan offered through a Health Insurance Marketplacebetter than what’s offered by Lockheed Martin, can I still choose coverage through a Health Insurance Marketplace?
Yes, you can choose health coverage through your state’s Health Insurance Marketplace instead of through Lockheed Martin. But since you have comprehensive, affordable health coverage available to you through Lockheed Martin, you won’t be eligible for any subsidy from the federal government for coverage purchased through a Health Insurance Marketplace.
Can my spouse/same-sex domestic partner and I get our health coverage from different places — my coverage under a Lockheed Martin health plan and his/her coverage through a plan from a Health Insurance Marketplace?
Yes, you and your spouse/same-sex domestic partner can enroll in different health plans. The important thing to remember is that you both will need to have health coverage on and after January 1, 2014, whether it comes from the same health plan or from two different plans.
Am I required to cover my spouse/same-sex domestic partner under the health care reform law?
No. You don’t have to provide health coverage for your spouse/same-sex domestic partner. If you choose not to, your spouse/same-sex domestic partner will still need his/her own coverage on and after January 1, 2014. It can come from his/her employer, or from health coverage purchased in an Health Insurance Marketplace.
What are my health coverage options for my spouse/same-sex domestic partner?
If you are eligible for Lockheed Martin health plan coverage, you can enroll your spouse/ same-sex domestic partner in your Lockheed Martin health plan. Or, if you decide not to enroll him/her, he/she can get coverage through a Health Insurance Marketplace where he/she lives. He or she might have other options, too, like coverage through his/her employer or a parent’s health plan.
Does my health coverage through the military satisfy the individual mandate requirement?
Yes, military benefits such as TRICARE satisfy the individual mandate requirement of the health care reform law.
If I get my coverage through a Health Insurance Marketplace, will I be able to choose the doctors I want?
Many different plans will be offered through the Health Insurance Marketplaces. Some will offer more choice in providers than others. When you compare the plans that you can choose from, you’ll be able to see which ones let you choose any doctor, and which ones only offer benefits from doctors who are part of a network.
If I want to get my coverage through the Health Insurance Marketplace in the state where I live, what’s the process?
The federal government expects the Health Insurance Marketplace to open for enrollment on October 1, 2013, and will offer health plans that start providing coverage on January 1, 2014. As we know more about the process for enrolling through the Health Insurance Marketplace, we’ll make that information available to employees in the U.S.
What if I don’t like the coverage I receive through the Health Insurance Marketplace, can I re-enroll in the Lockheed Martin plan?
An employee who enrolls in a medical plan through their Health Insurance Marketplace will not be able to re-enroll in a Lockheed Martin plan until the following Annual Enrollment or as the result of a Qualifying Life Event.
Help With Paying for Health Insurance Costs
Is it true that the government will give some people money to help pay for health insurance costs?
Yes. For certain low- and middle-income people who cannot get health coverage at work at a price the health care reform law calls “affordable,” or who are not eligible for comprehensive, affordable health coverage from their or their spouse’s/same-sex domestic partner’s employer, the federal government will offer financial help in paying for health insurance purchased through the Health Insurance Marketplace. This financial help is called a “subsidy.”
How much of a subsidy is the government providing?
The amount of the subsidy will depend on each person’s household income. It’s important to know that, generally, if you are eligible for coverage through a Lockheed Martin health plan, you are not eligible for a subsidy. If you are not eligible for coverage through a Lockheed Martin health plan, you may be eligible for a subsidy depending on your household income. It’s not just your income that counts, but the combined income of everyone in your home. Starting in October, you can contact the public Health Insurance Marketplace to see if you qualify for a subsidy. Check www.healthcare.gov, the website sponsored by the Department of Health and Human Services, to get contact information for the public Health Insurance Marketplace.
Health Care Costs
Will my health care costs continue to go up?
One of the goals of the health care reform law is to make health insurance affordable for all Americans. Lockheed Martin also wants to make sure that our health plans stay affordable for our employees. Health care costs keep rising, and some of what’s causing prices to go up isn’t in our control. But Lockheed Martin is working hard to control what we can, and we’ll ask our employees to help by knowing how to use their health plan benefits wisely. We’ll keep providing you with the information you need to help you keep your costs affordable.
I’ve heard something about a “Cadillac tax” — what is that?
Starting in 2018, employers with health plans that are too expensive will have to pay a tax, which is sometimes called the Cadillac tax. Lockheed Martin is doing everything it can to keep our plans affordable for the Company and for you so that none of us has to pay more because of the Cadillac tax.
Does the health care reform law help limit my out-of-pocket health care costs?
Yes. The health care reform law puts limits on what you have to pay out of your own pocket each year. Whether you get your coverage through Lockheed Martin, through an Health Insurance Marketplace, or from somewhere else, these limits will be in place to help keep your costs down.
I saw a number on my Form W-2 that showed the value of the health care coverage Lockheed Martin provided to me in 2012. Am I being taxed on that?
No. Reporting the value of your health care coverage is another requirement of the health care reform law. Lockheed Martin puts that value in box 12, code “DD” of your Form W-2. But the value of your Lockheed Martin-provided health care coverage isn’t taxable to you. It’s there just for your information.