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Medical Marketplaces: What to Know


Under the Affordable Care Act, Americans can choose a federal, state, or private medical marketplace to purchase an insurance plan that fits their needs. There is a wide variety of health plans available through medical marketplaces. Whether you're just looking for information or ready to buy a plan, there are a few things you should keep in mind.

The Affordable Care Act (ACA) has changed health insurance in America. If you don’t have coverage through your employer or Medicare, you may need to purchase medical marketplace coverage. These health insurance plans are designed to be affordable for individuals and families.

What Do Medical Marketplaces Have in Common?

A medical marketplace is where people who either do not have health insurance or want to switch their current plan can find information about health insurance options as well as purchase a plan. Information can also be found regarding eligibility for help with paying premiums and reducing out-of-pocket costs.

Some common facts about marketplace plans include:

  • All plans offered through federal, state, and private medical marketplaces must cover 10 essential health benefits, a mandatory set of healthcare services under the ACA.
  • You can obtain individual health insurance only two times in a year: during open enrollment and after a qualifying event.
  • Tightly regulated plan prices cannot be changed directly based on factors like commissions.

Advantages of Choosing a Private Medical Marketplace

People who utilize a private medical marketplace for their insurance needs may have an income too high to qualify for cost assistance or may want to consider more options than those offered through federal and state marketplaces. In fact, 195.9 million Americans (64% of the total population) enrolled in private health insurance in 2010.

Consumers may choose from federal or state marketplaces depending on where they reside. However, all Americans can choose plans through a private medical marketplace, such as HealthMarkets Insurance Agency. Plus, HealthMarkets can help with state or federal marketplaces as well.

Why Should HealthMarkets Be My Choice for a Medical Marketplace?

  • We have thousands of licensed agents to help research the right plan for you.
  • We have a portfolio of products from more than 180 recognized and trusted insurance companies.
  • We offer personalized assistance 24/7 over the phone at (800) 827-9990.
  • We provide a user-friendly online shopping experience.
  • Since 2010, we’ve helped enroll Americans in more than 2 million insurance policies.
  • Our comprehensive resource center and blog provide information about health insurance, wellness, and more.
  • Our Best Price Guarantee means we have the lowest rates anywhere for plans we offer.

Contact us online for a quote, over the phone at (800) 827-9990, or in person with a local agent today.

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Sources:

http://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/The-Health-Insurance-Marketplace
http://resources.healthmarkets.com/need-to-know-about-10-essential-health-benefits/
http://www.cnn.com/2012/06/27/politics/btn-health-care/

 

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