Minimum Essential Coverage (MEC) Plans
Minimum Essential Coverage (MEC) Plans are designed to cover preventative care and wellness-related tests and treatments while helping employers meet the qualifying coverage requirement of the Affordable Care Act (ACA). MEC plans are not traditional health insurance, as benefits are limited to preventative services using an in-network provider.
MEC Plans carry significantly lower costs than traditional group health insurance, and can be the most cost-effective method for an employer to satisfy the qualifying coverage requirement for their workforce. Plans can be funded by employer, employee or co-funded, and are best suited for businesses with low-wage, high turnover staffs.
Note that an MEC Plan alone won’t entirely eliminate an employer’s exposure to ACA penalties when it comes to affordability requirements, but can be offered in conjuction with other coverages like a Minimum Value Plan to eliminate these risks.
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