ACA Marketplace

Every year, starting November 1st, the ACA Marketplace, or Obamacare, opens up their plans for enrollment. If you enroll into a plan by December 15, your plan will go into effect January 1. They also usually extend the open enrollment to January 15, which gives you the effective date of February 1. Life events like getting married, having a baby, or moving give you a special enrollment period that allows you to enroll outside of the yearly open enrollment period.

Most people qualify for what is called a tax credit. Based on your expected annual income, you can qualify for savings on your monthly premium. Sometimes savings can also be applied to your deductible.

The Affordable Care Act established ten essential benefits: including prescription drugs, emergency services, hospitalization, laboratory services, and mental health and substance use disorder services. All of which are included in the benefits of Marketplace plans. They also cover preventative services at no cost to the policyholder.

Unfortunately, there a lot of plans that require underwriting and will deny someone, or increase the premium, due to pre-existing conditions. Marketplace plans do not do that. In fact, there are no underwriting questions and pre-existing conditions are covered.

How do you enroll? There are several ways. You can apply on your own by phone, online, or paper application. You can also obtain the assistance from a licensed health insurance agent, like myself.