What’s a Health Insurance Marketplace? Why do I need health insurance?
The new health care law sets up a Health Insurance Marketplace in each state, which is your one-stop shopping destination for health insurance. It works in the same way you would shop for any other important item in your life: You look at all the available options in your area, compare each plan’s features and prices side-by-side, then choose the one that fits your needs and your budget.
6 Key Facts About the New Health Insurance Options:
Financial help is available
Preventive care is free
Application help is available — and free
You can’t be turned down for coverage for a having a pre-existing condition
The costs and benefits of each plan must be explained in easy-to-understand language — with no fine print
All health insurance plans have to cover important benefits, like doctor visits, hospitalizations, prescriptions, and more
What Your New Insurance Gets You:
Mental health services
Emergency services and hospitalizations
Infant care and children’s care
Free preventive care, such as:
Blood pressure screening
Colorectal cancer screening
Information obtained from getcovered.org
Qualified Health Plan (QHP)
A Qualified Health Plan (QHP) is a health insurance policy that is certified to meet the minimum standards in the Patient Protection and Affordable Care Act.
Unlimited lifetime benefits
No preexisting condition exclusion
100% preventive care coverage
Hospital, medical/surgical expense coverage
Emergency Services coverage
Mental health/substance abuse coverage
Rehabilitive and habilitive therapy coverage
Enroll on healthcare.gov
Can only enroll during Open Enrollment from November 1 – December 15 each year.
Short-Term Limited Duration (STLD) Plan
A Short-Term Limited Duration (STLD) Plan is a type of health plan that provides coverage for only certain specified health care services or treatments or provides coverage for health care services or treatments for certain conditions during a specified period.
Lifetime maximum limit
Limited number of visits
No coverage for preexisting conditions
No mental health/substance abuse coverage
No therapy, rehabilitive or habilitative services
No prescription drug coverage
May not offer policy renewal
No preventative coverage
No maternity coverage
Membership dues to join association
Can enroll year-round