New marketplaces and health coverage
With the launch of Health Insurance Marketplaces, uninsured Americans have better access to quality, affordable health coverage. A key component of the Affordable Care Act (ACA), sometimes referred to as "Obamacare," these marketplaces allow people to compare prices and shop for health coverage – online or via phone. The information about each insurance plan is provided in easy-to-understand language. All plans have to show the cost and benefits in simple language with no fine print.
While the open enrollment period for 2014 closed at the end of March, avenues still exist for many people to sign up for coverage. The ACA allows for special enrollment periods if a person experiences a “qualifying life event,” which includes getting married, having children, losing coverage to the loss of a job, or moving to a new area. A person with a qualifying life event has 60 days to enroll in or change a health insurance plan. Healthcare.gov has more information and answers to specific questions online.
People can apply for Medicaid or the Children’s Health Insurance Program (CHIP) at any time. If qualified, he or she can enroll right away. Some people are also exempt from needing health coverage. Visit healthcare.gov to learn more about exemptions.
Help is Available to Pay for Your Coverage
Financial assistance available to help many Americans afford quality health coverage. The Amount of financial assistance a consumer qualifies for is based on their income and family size. For example, individuals making between $15,900 and $46,000 and a family of four earning between $32,500 and $94,200 will qualify for financial assistance on a sliding scale. For those who qualify, the average annual tax credit for an individual will be $5,290.
Use this subsidy calculator to give you an idea of how much assistance you may qualify for in order to purchase health coverage.
We’re Committed to Coverage
We are here to assist you in understanding the insurance options available to you. Our Patient Financial Advocates and Certified Application Counselors located in each of our hospitals will help people understand how the Insurance Marketplaces work, the options available and associated costs. Contact a Certified Application Counselor in your local area or email a question.
- The enrollment period for 2014 ended on March 31. Open enrollment for 2015 begins Nov. 15, 2014.
- A qualifying life event can create a special open enrollment period for a person who needs coverage.
- Coverage for health plans purchased through the Insurance Marketplace became effective as early as Jan. 1, 2014.
- The Insurance Marketplace does not include Medicaid, but there are new options for patients who may qualify for Medicaid, visit Medicaid.gov to learn more.
- We’re your partners in health and our certified counselors are here to help at every step of the way. Call us today at 855-821-0124 or find contact information in your region here.