Marketplace Health Plans
Marketplace plans (also known as ACA, Obama Care/Bidencare, and Healthcare Market) must cover treatment for pre-existing medical conditions. No insurance plan can deny you coverage, charge more, or refuse to pay for essential health benefits for any condition you had before your coverage began. All marketplace plans cover 10 essential health benefits: Ambulatory Patient Services, Emergency services, Hospitalization, Pregnancy & maternity, Mental health, and substance use disorder services, prescription drugs, Rehabilitative and habilitative services and devices, laboratory services, preventative & wellness services, and pediatric services. Under the American Rescue Plan Act of 2021, you may get more savings and lower costs through the Marketplace.
Plans in the marketplace are presented in 4 “metal” categories: Bronze, Silver, Gold, & Platinum. Metal categories are based on how you and your plan split your health care costs. Bronze has the lowest premium with the highest costs when you need care. Silver has a moderate monthly premium with moderate costs when you need care. However, if you qualify for cost-sharing reductions, you must pick a silver plan to get the extra savings. Gold has a high monthly premium with low costs when you need care. Platinum has the highest monthly premium and lowest costs when you get care. Regardless of which metal category you choose, you can save a lot of money on your monthly premium based on income.
How can we help?
As Insurance Brokers “The Riddle Family Insurance” is always happy to do a free no-cost plan review to see if you can get better coverage at lower costs. Thanks to the Affordable Care Act and the American Rescue Act you may qualify for financial help to pay the plan premiums. The monthly cost can be as low as $0 per month depending on income. We can see if you qualify for financial help through the Health Insurance Marketplace to help pay the monthly premium.