MEDICAL INSURANCE

Marketplace Health Insurance Coverage
This is Health Insurance that is purchased through healthcare.gov, and is predominately for people who do not have access to employer-paid health insurance. You may hear this type of health insurance referred to as ACA health insurance, marketplace health insurance or exchange health insurance; they are all the same.

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Marketplace coverage:

• No medical underwriting. Guarantee Issue. Guarantee Renewability.

• Must sign up for coverage during the annual open enrollment period each year or through a Special Enrollment Period.

• Individuals or families may qualify for a premium tax credit (subsidy) and cost-sharing reductions. This is determined by location, household size, and household income.

• Carriers available vary from state to state.

• Multiple plan options are available.

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Private Health Insurance 
This is Health Insurance that is purchased through the carrier and is predominately for people who do not have access to employer-paid health insurance and make too much money to qualify for a subsidy through the exchange. You may hear this type of health insurance referred to as ‘short term’ health insurance.

Private coverage:

• Must pass medical underwriting questionnaire in order to receive a policy. Pre-existing conditions parameters usually apply.

• Plans are generally non-renewable past 1 year.

• Private health insurance is different than commercial health insurance or marketplace health insurance. They do not have adhere to the same laws as marketplace or commercial plans.

• May apply year-round.