Question: I work for a big retail company that has a health plan but I can’t afford it. My cost to insure my family would be almost 30% of my wages. Will the Exchange be cheaper for me?
Answer: Yes. In 2014, your contribution for employer-sponsored health insurance cannot exceed 9.5% of your wages or your employer will pay a penalty called the play or pay tax. Also, if your employer does not offer you affordable health insurance (below 9.5% of your wages), you will be free to shop for your own coverage at the Exchange where you may save more if you qualify for premium subsidies.