What is the Health Insurance Marketplace? – Compass Insurance Advisors
  • Imagine a food market, a place where people come to purchase their produce, a Health insurance marketplace is a place where people seek to purchase an affordable health insurance plan. The insurance marketplace is a Federal service created in 2010 by the Affordable Care Act (ACA) also known as Obamacare. The marketplace offers Federal assistance that helps you pay for your insurance plan. There are two types of assistance you could qualify for, one of them is the Advanced Premium Tax Credit and the other one is Cost Sharing. You will know if you qualify for a subsidy based on your income. Although the Marketplace website was created for everyone, some states that run their own marketplace and have their own platform.

    So what exactly does the health marketplace help you with? Although the marketplace was created to help consumers find affordable health insurance, it can often be overwhelming by all the information. The marketplace website lists different carriers with different options, however, the health plan options usually list the minimum essential coverage. Because the marketplace only lists the options that meet the minimum essential coverage, you will have to do your own research to find out what other benefits are covered under your plan.

    How can you have the peace of mind knowing that you are choosing the plan with the coverage you need? The best way to find an insurance plan that meets all your needs is by searching different options with different insurance companies. If you are trying to do this alone then you will have to call each insurance company to ask for quotes, benefits covered, etc. Because this is a long process we recommend contacting a Licensed Insurance Agent. Agents are FREE to use and they have access to many health insurance options that can be tailored specifically for your needs. Furthermore, because Licensed Agents have access to a wide array of insurance carriers and healthcare options, you have the ability to choose a better and more affordable plan. Contact one of our Compass Insurance Agents (801) 901-3519 to help you with all your insurance process so you don’t have to worry whether you are paying for the right plan or not.

  • Leave a Reply

    Your email address will not be published. Required fields are marked *

Need Help?

Speak To A Certified Compass Agent Today!

(801)901-3519

Monday - Friday 8:00 am - 9:00 PM


Or Find Affordable Insurance Plans

Related Articles

Dynamic Blog Short Description

  • Health Insurance for Pre Existing Conditions

    What types of health insurance policies will cover preexisting conditions? In this article, we are going to walk you through what you need to know if you or anyone you know needs coverage due to a pre-existing condition. We will inform you of which insurance plans cover and which ones do not cover

    Read More
  • Who is eligible for the Health Insurance Marketplace?

    In 2010, the Health Insurance Marketplace was created by the Affordable Care Act (ACA) also known as Obamacare. Any United States citizen is eligible to apply for health insurance through the Marketplace, and many people will qualify for lowered monthly payments through an advance tax credit. If yo

    Read More
  • What is the Health Insurance Marketplace?

    Imagine a food market, a place where people come to purchase their produce, a Health insurance marketplace is a place where people seek to purchase an affordable health insurance plan. The insurance marketplace is a Federal service created in 2010 by the Affordable Care Act (ACA) also known as Obam

    Read More
  • How Much Does Health Insurance Cost?

    Your health insurance cost will be determined by a few factors. The main factor that determines your health insurance premiums is what federal advance premium tax credit you qualify for. Other factors include tobacco usage, location, age, plan structure, and number of dependents. Federal assista

    Read More
  • Health Insurance In Arizona

    Purchasing Health Insurance In Arizona Many states have joined in running their own Affordable Care Act exchange, however, Arizona is one of the states that still uses the Federal Affordable Care Act (ACA) exchange. Meaning, that they use the Federal marketplace and follow the dates for open enr

    Read More
  • Health Insurance In Nevada

    Purchasing Health Insurance In Nevada Nevada is one of the states that runs their own Affordable Care Act exchange. Meaning, that they don’t use the Federal marketplace. Instead, Nevada uses its own state’s marketplace for residents to choose a health insurance plan.  Medicaid/CHIP Me

    Read More
  • When is Open Enrollment?

    When is open Enrollment? Due to the significant impact of Covid-19, the Biden-Harris Administration extended the open enrollment for this year, giving people the opportunity to enroll in a healthcare plan for an extended period of of time. In most states, Open Enrollment will start November 1, 2

    Read More
  • Health Insurance for Self-Employment

    Finding health insurance for self employment can be daunting. My goal in this article is to help you understand the cost of qualified health insurance, how to save money on health insurance, and other potential solutions for affordable health insurance. Cost of Qualified Health Insurance for Sel

    Read More
  • Medicare Part D Notices Are Due Before Oct. 15, 2021

    Medicare Part D Notices Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Plan sponsor

    Read More

What Others Say About Us

Our Customers Love Us

Let Us Help You Find A Health Insurance Plan

No Extra Cost. Professional Guidance. Quick Analysis. Complete Protection. Simplified Enrollment. Personalized. Support.