Health

As an independent insurance agency, we have the capability and freedom of representing all the major insurance carriers. This provides us with a wide range of options to help you find a policy that best suits your individual needs. This year our agency has received recognition from Healthcare.gov to be inducted into The Marketplace Circle of Champions, because of our expertise and support that we provide to our clients from the moment we connect with them. We take our role seriously and the significance in partnering and guiding you through your medical insurance needs, we are here to assist you. As part of our support, we created the tips below to get you started with your health insurance process.

Why Do I need Health Insurance?

With the Affordable Care Act mandating that most Americans purchase health insurance, many of our clients who are healthy question why they need health coverage. Health insurance is important to have so that you and your family are covered during times of unforeseen serious illness or injury that could lead to expensive medical costs. As with most types of insurance, health insurance is there as service you pay for but hope you will not need to use. In addition to being protected financially from unpredictable events, health insurance also helps cover the costs of your routine and preventive care.

When Can I apply for Health Insurance?

There are different timeframes in which you can enroll onto an individual health insurance plan.

• Open Enrollment: This timeframe is the main enrollment period in which people can obtain their health insurance. It takes place every year starting November 1 – December 15. During this time you can review your current plan and other plan options to enroll on a new plan for a January 1^st effective date. Any changes made during the months of November and December will take place effective January 1st. If you do not enroll or make changes during this time, you cannot enroll in new health insurance coverage unless you qualify for a Special Enrollment Period (SEP).
• Special Enrollment Period: This is a time outside of the open enrollment period in which you or your family can sign up for health coverage due to a recent Qualifying Event (QE) that allows you 60 days following the event to sign up for health insurance. Examples of Qualifying Events: getting married, having a baby, adopting a child, loss of health insurance coverage through an employer, moved from out of state. If you are unsure if you have a qualifying event, give us a call and we will be happy to help.

How Do I apply for Health Insurance?

There are two ways you can apply for your individual health insurance plan depending on your estimated household income and family size. Please refer to the 2023 Federal Poverty Guideline Chart below.

If your household income is the amount shown or below the amount shown for your family size, you would apply On-Exchange. If your income is greater than what is shown on the chart for your family size, you would apply Off-Exchange.

On-Exchange: This is also referred to as the On the Marketplace. When you apply through the Marketplace, you are given a tax credit to subsidize your monthly premiums. The way to obtain coverage through the Marketplace is by applying online through Healthcare.gov or calling the Marketplace. You can also work with an agent who can sit with you and assist you with understanding the plan options on the Marketplace.

Off-Exchange: This is also referred to as Off the Marketplace. This means your household income exceeds the income percentage of the Federal Poverty Level and you do not qualify for a subsidized premium. To apply for coverage off the exchange you would apply directly through the insurance company of your selection. It does help to have an agent or broker to assist you in understanding the different plan options so that you can make an educated decision on which health insurance plan you select.

For more information on individual or family plans, give our agency a call today or complete our short request a quote form below and one of our friendly agents will reach out to you!

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