MEC Plans / MVP Plans / Limited Medical Plans
Minimum Value Plans (MVP) Minimum Value Plans resemble traditional major medical coverage but must cover at least 60% of the total allowed cost of benefits (leaving employees to cover 40% of many costs). These plans must also comply with other ACA minimum benefit requirements such as covering all preventive care at 100%. Self-funding is often the most affordable option for employers looking to offer an MVP. However, many stop loss carriers require high participation rates, making it difficult for employers with lower wage employees (who may decline coverage) to reach these levels. ARCHER JORDAN’s MVP approach requires no participation, putting this option within reach for all organizations. By offering a Minimum Value Plan, you will avoid exposure to all ACA penalties. If your employees choose to enroll, they will avoid the individual penalty. However, your employees will not be eligible to seek subsidized coverage through the exchange, even if their income qualifies.