The Health Insurance Marketplace makes it easier to find quality, affordable coverage. Millions of Americans have already gotten coverage, many for the first time just last year.
Here are 10 facts you should know about the Marketplace and buying health insurance in the United states.
- Some states operate their own Marketplace, and in other states the Marketplace is run by the federal government. In the majority of the United states it is ran by healthcare.gov or the marketplace. You can sign up for 2015 Marketplace coverage as soon as November 15, 2014. Going through a local health insurance agent is the smartest way to obtain coverage and the cost is exactly the same.
- Health insurance plans offered through the Marketplace are run by private companies. Companies like blue cross , humana one, Anthem, UHC, Kaiser plans all would be part of the this list.
- Every health plan in the Marketplace offers the same set of essential health benefits, including doctor visits, preventive care, hospitalization, prescriptions and more.
- You can compare your options in the Marketplace and see what your premium, deductibles, and out of pocket costs will be before you make a decision to enroll in your health plan
- After you fill out a Marketplace application you’ll learn if you’re eligible for lower monthly premiums. Many people who apply for health coverage through the Marketplace will qualify for some kind of savings.
- You can apply for Medicaid or the the CHIP program through the Marketplace at any time of year. These programs provide free or low-cost coverage to millions of Americans with limited incomes, disabilities, and certain family situations.
- If you qualify for a SEP or special enrollment, you may apply for health coverage through the Marketplace outside the Open Enrollment Period. In most cases you have 60 days from the qualifying event.
- Health plans offered through the Marketplace can’t deny you coverage because of preexisting conditions like hypertension, cancer or diabetes, and they can’t charge women and men different insurance premiums.
- In the Marketplace, you generally can get dental coverage as part of a health plan or by itself through a separate, stand-alone dental plan.
- You must report certain qualifying events to the health insurance Marketplace, such as if you get married or divorced, have a child or adopt a child, or have a change in your income. After you report life changes to the Marketplace, you’ll get a new eligibility notice that will explain if you qualify for a Special Enrollment Period and lower costs. One of the biggest qualifying events is change of income during the year don’t end up with a tax bill.