The Health Insurance Marketplace was established to make it possible for people in the USA to evaluate the various types of health insurance for deductibles, costs, and coverage. This resource is operated by the federal government or by your state, depending on where you live. Small businesses can shop for health insurance at the Small Business Health Options Program (SHOP), where small business owners can compare plans to offer their employees.
What is the Health Insurance Marketplace?
This government resource is designed to make it easy for individuals, families, and small business owners to:
- Compare the available health insurance plans in your state.
- Discover any tax credits related to health insurance.
- Determine eligibility for Medicaid or CHIP (Children’s Health Insurance Program).
Open Enrollment on the Health Insurance Marketplace
The Marketplace has a specific “open enrollment period.” If you missed the open enrollment period, you may still be able to get health insurance during a “special enrollment period.” You become eligible for a special enrollment period for specific life events, such as having a child, getting married, divorced, moving, or a new job, and others.
You & Your Health Insurance
While the Marketplace is geared to help people identify the right health insurance, it can be surprisingly difficult to know what policy to choose. Many people choose to work with a local insurance agent for guidance. You may not be sure which plan is best for you and your family or whether you are eligible for special enrollment or enhanced subsidies to help you pay your premiums.
When You Need Guidance
Our local agents are available to help you navigate the marketplace and choose the health insurance plan that will be best for your situation and budget.