The Health Insurance "Marketplace" is a resource where individuals, families, and small businesses can:
Without complicating matters- many, many people are now using the Marketplace for healthcare coverage and getting significant deals and discounts. When you visit the website (use my link below), you can "window shop" within 2 minutes just by providing your zip code, age, number of dependents, and household income. Each of those are valuable pieces of info, so try to be accurate!
You will often find the big, national brands of insurance companies on this "Amazon for Insurance" website. If you DO NOT have medical coverage provided to you through you or your spouse's employer, and if you DO NOT have Medicaid/ Medicare in place... then definitely take the extra minute to add those 4 pieces of information I mentioned and see if you Qualify For a Savings. It is amazing how many people can get an average plan (or at least something basic to guard against a catastrophic event) for $0 - $200 per month. (Again, household income and # of dependents are huge factors)
The full price of each plan will always be listed, but hopefully you qualify for some discounts and see a revised price beside it! I recommend reading the next section or two for VERY IMPORTANT INFO.
The normal enrollment window for the Marketplace is usually November and December, and then the door closes until the next year. You may enroll outside of that window if you qualify for a Special Enrollment.
You qualify for a Special Enrollment Period if you've had certain life events, including losing health coverage, moving, getting married, having a baby, or adopting a child, or if your household income is below a certain amount.
If you are uncertain about your situation, just call or email me to discuss.
Being as accurate as possible when applying is crucial. Whether you say your income is $25,000 a year or $75,000, or the number of dependents you claim... just know that everything get verified at TAX TIME the following year. The IRS compares your tax return to your medical insurance application, and will settle up then.
If you didn't make as much as you estimated on the application, you may get extra savings and therefore, a better tax refund. If you made more than expected, the IRS may say you didn't qualify for that much discount, and handle a little payback at that time. Make sense?
The Marketplace is available online at: Healthcare.gov. You can also contact the Health Insurance Marketplace by telephone, 24 hours a day, 7 days a week at:1-800-318-2596
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