The Affordable Care Act offers all Americans a new way to buy private individual health insurance: the Health Insurance Marketplace. To help you evaluate health care options for you and your family, this notice provides some basic information about the new Marketplace and employment-based health coverage offered by BNY Mellon.

The Marketplace is designed to help you find private, individual health insurance if you need it. The Marketplace offers "one-stop shopping" to find and compare private health insurance options.

Can I Save Money on my Health Insurance Premiums in the Marketplace?

If you purchase health insurance through the Marketplace and your income is within certain limits, you may be eligible for a premium tax credit from the IRS that reduces your monthly premium, but only if your employer does not offer coverage, or offers coverage that does not meet certain standards.

Does the Health Coverage Offered by BNY Mellon Affect My Eligibility for Premium Savings through the Marketplace?

Yes. Each of the medical plans offered by BNY Mellon meets or exceeds the standards for comprehensive and affordable coverage as required under the law. As a result, you will not be eligible for a tax credit through the Marketplace if you are eligible to enroll in a BNY Mellon sponsored medical plan. However, you may be eligible for a tax credit that lowers your monthly premium, or a reduction in certain cost-sharing if you are not eligible for the BNY Mellon medical coverage. If the cost of individual coverage is more than 9.5 percent of your household income for the year, or if the coverage provided by BNY Mellon does not meet the "minimum value" standard set by the Affordable Care Act, you may be eligible for a tax credit. ( An employer-sponsored health plan meets the "minimum value standard" if the plan's share of the total allowed benefit costs covered by the plan is no less than 60 percent of such costs.)

Note: If you purchase a health plan through the Marketplace instead of accepting health coverage offered by BNY Mellon, then you will lose BNY Mellon's contribution to the cost of your medical coverage, if you are a n employee of BNY Mellon, as well as the tax benefits of those before-tax contributions. The BNY Mellon contributions – as well as your employee contributions – are often excluded from income for Federal and State income tax purposes. Your payments for coverage through the Marketplace are made on an after-tax basis.

How Can I Get More Information?

For more information about your coverage offered by BNY Mellon, please check your summary plan description or contact the BNY Mellon Benefit Solutions Service Center at 1-800-947-4748, option 2.

The Marketplace can help you evaluate your coverage options, including your eligibility for coverage through the Marketplace and its cost. Please visit www.healthcare.gov for more information, including an online application for health insurance coverage and contact information for a Health Insurance Marketplace in your area.