The Marketplace health insurance makes it easier to obtain high-quality, low-cost coverage. The majority of Americans have already acquired health insurance plans, several for the first time.

14 Facts About Marketplace Health Insurance

Here are 14 facts about the Marketplace that you should be aware of:

  1. No matter which state you live in, you can obtain Marketplace health insurance coverage. Some regions operate their Marketplace, while in other states, Marketplace plans are controlled by the federal government. You can enroll in the 2022 Marketplace insurance as early as November 1, 2021.
  2. Private companies run health insurance plans provided through the Marketplace.
  3. Every plan in the Marketplace offers the same range of essential health benefits, such as preventive care, doctor visits, prescriptions, hospitalization, and other services.
  4. You can preview your options in the Marketplace as well as see what your deductibles, premiums, and out-of-pocket expenses will be before you decide to enroll for the first time.
  5. After filling out the Marketplace application, you will learn if you qualify for lower costs on your monthly premiums. Most individuals who apply for insurance coverage through the Marketplace will be eligible for some savings.
  6. You can get CHIP (Child Health Insurance Program) and Medicaid coverage through the Marketplace program at any time of the year. These coverages provide complementary and low-cost services to millions of American people with limited earnings, impairments, and specific family conditions.
  7. You may apply for health insurance through the Marketplace program outside of the Open Enrollment Period if you qualify for a SEP or Special Enrollment Period.
  8. Insurance plans sold through the Marketplace cannot deny coverage based on pre-existing conditions like diabetes or cancers, and they cannot charge men and women different premiums.
  9. Dental coverage is typically available in the Marketplace insurance as part of a health plan or a separate, stand-alone dental plan.
  10. You must notify the specific qualifying life changes to your Marketplace coverage, such as getting married or divorced, having a child or adopting a child, or having changes in your income. After you report these life events to the Marketplace program, you will receive a new eligibility notice indicating if you are eligible for a SEP (Special Enrollment Period) and lower costs.
  11. Members of legally controlled tribes and Alaska Natives can sign up for the Marketplace coverage at any time of year and switch plans as frequently as once a month.
  12. If you have a profitable business with no employees, you are considered self-employed and can obtain insurance through the Marketplace coverage program.
  13. Even if you have access to a student health plan, you have the option of purchasing health coverage through the Marketplace. You may be eligible for lower costs depending on your household income.
  14. Suppose you disagree with a decision made by the Marketplace health insurance, such as whether you are eligible to purchase a plan or you qualify for reduced costs based on your earnings. In that case, you might be able to appeal your decision.