Shopping the for Health Insurance through the Marketplace 

The Health Insurance Marketplace was created by the Affordable Care Act in an effort to make buying health insurance more accessible and affordable.  Insurance plans, known as Qualified Health Plans (QHP’s), will be available through the marketplace. QHP’s must cover ten essential benefits in an effort to ensure that patients get a standard of care with every plan.

Every state will have its own marketplace where consumers can access the plans available in their area. Through the marketplace users will be able to apply for coverage by filing just one application.  By filling out this application users will not only find out what plans are available in their state but will also learn if they qualify for any type of financial assistance or a federal program like CHIP, Medicaid or Medicare.

There are three ways a state can run its health insurance marketplace:

  • State Based Marketplace – State creates and runs its own marketplace.
  • State Partnership Marketplace – State partners with the Federal government to run some Marketplace functions.
  • Federally Facilitated Marketplace – State has a marketplace established and operated by the Federal government, known to consumers as The Health Insurance Marketplace.

No matter how your state participates, the marketplace will allow you to view the plans available in your area in order to help you better understand your options. Through the marketplace you can see what your premium, deductibles, and out-of-pocket costs will be before you make the decision to enroll in a plan.  You will also be able to compare plans side by side before enrolling.

How does the marketplace help you?

For more information on how the marketplace works please see the resources below:

 

Health insurance that works for you - and your employees

 

ACA Federal Programs
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