Health Insurance Marketplace

To facilitate the access to available plans, the health insurance marketplace system was established.

Health Insurance

Your ZIP Code:

Compare quotes on health policy online.

Get quotes from health insurance marketplace and save there

The two kinds of the marketplace are federally-facilitated (see www.healthcare.gov for further information) and state-based. The kind you are to use depends on in what state you live. Try visiting the website the link to which was given above: it will either ask you to specify your ZIP code or you’ll be redirected to the marketplace operating in your area.

The marketplace aims at serving the purpose of helping people obtain a policy. If you’re wondering who can (and is supposed to) use the system, here’s the list:

  • If you do not belong to the category of society which is provided healthcare options (such as CHIP, Medicaid, and Medicare), you are to insure your health. This is the law, and in case of breaching it you’ll have to pay a penalty, which for the current year makes up 2,5% of what your family earns (if we omit the percentage form, it’s $695 − you will have to pay the price which is higher, either the percentage or the above stated sum). For children, this figure is cut in half: $347.5. Note that some groups of the American society do not need obtaining a policy.
  • If you work and are provided insurance by your employer, you can stick to a plan via the marketplace, yet you’ll be charged the full sum unless the policy provided by your employer doesn’t meet the criteria set for health programs that are to be considered enough to regard a policy as sufficient.
  • Medicare prevents you from buying a separate plan via the marketplace.

Depending on your income, you may be offered to save money. As they claim, about 80% of families are eligible for terms under which they can find a plan requiring them to pay no more than a hundred dollars a month.

Only these categories of people living in the US are allowed to use the marketplace:

  • The US citizens;
  • The registered immigrants who live in the US lawfully.

Note that an incarcerated person cannot use the marketplace.

Health Marketplace Calculator

In order to calculate how much a policy is going to cost you, you can use a feature called the marketplace calculator. Based on the data you enter, the result you get is the estimate of the cost. Note that the validity of the information provided by the service is limited by local peculiarities specific to a particular state, so it’s recommended to learn what changes your state government has made to the general pattern.

Besides, the calculator can help you determine whether you have the right to get Medicaid. A convenient calculator is available at www.kff.org.

In the calculator, you can specify your state, your family income (either in dollars or as a percentage of the poverty line), whether your wife/husband can provide you with coverage, how many people there are in the family, the number of grown ups belonging to the family who want to enroll (the age range is stated as 21-64 since people older than 65 can use Medicare), as well as the number of children to be covered, your age, and the fact of tobacco usage.

The feature allows you to calculate the estimates of premiums, financial help, the silver plan cost in your case (and the most you can be charged), the price without financial help, and you will also be provided information about the kinds of plans available (from Bronze to Platinum) and what percentages are seen in each case. The out of pocket costs notion is also explained.

The calculator helps you understand how the price is shaped and what you can expect to pay.

Health Insurance Marketplace Application

The ways to apply include:

  • Online. Filling in the form is the only thing required to get a quote and calculate how much you’re going to spend on insurance. The application process is also easy, just be careful when specifying the details about you and your loved ones (should such information be needed).
  • By phone. Some find calling outdated and old-fashioned, yet it’s a very convenient way to apply since you can ask all the questions you have right at the moment of calling and get instant answers. The only drawback is that it may be difficult to provide information by phone (spelling difficult surnames, etc.).
  • Using in-person help. Apply with the help of a special person who will aid you in the process and answer all your questions. As to the drawbacks, this kind of application requires going to the office and offline application is not convenient for everyone.
  • Paper application. Good old letters are still used, and if you find it the best option, why not send your papers directly to the organization? The downside is that it may take a while until your application can be processed since the time needed for mail delivery may vary. It’s not the most optimal way of application if the enrollment period is about to end.