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Health Insurance Outside Marketplace

If you are not eligible for lower costs based on your income, you can get health insurance plans in the following ways:

• Directly from an insurance company You can contact any health insurance organizations and see plans available in your location. Most have websites that allow you to compare all plans available from that company.
• With the assistance of an insurance agent or broker. Agents typically work for a single health insurance company. Brokers usually sell plans from many companies. They can assist you to compare plans based on features and price and complete your enrollment. You do not pay more by using an agent or broker. They’re usually paid by the insurance company whose plans they sell.
• From an online health insurance trader. These online services provide health plans from several private health insurance companies. They allow you to compare prices and features and then enroll with the insurance company.
• Via the Health Insurance Marketplace. You can apply and enroll through the marketplace, whether you qualify for lower costs depending on your income.

Do I Have to Use the Marketplace to Obtain a Marketplace Plan?

The only way to acquire a marketplace plan or cost assistance is through your state’s Health Insurance Marketplace. That being said, some brokers and providers can help you find out if you qualify for subsidies, and some can assist you enroll in a marketplace plan. So in some instances, you have your choice between getting assistance from your state’s marketplace or an outside broker or agent. The advantage of selecting an agent outside the marketplace is that they can present other non-marketplace plan choices.

2020 Individual and Family Coverage Guide

This guide will let you compare the differences between ACA compliant plans and Non-ACA plans. Non-ACA plans can save you a lot of money and provide greater access to providers. Non-ACA plans are not for every person. If you have significant health issues and particular needs, you may require to stay in an ACA plan.

Non-ACA Plan

Non-ACA Plan is a very generalized term that individuals use to describe anything that is not compliant with the ACA. The issue is that a lot of plans that aren’t actual insurance get lumped in like faith-based cost-sharing plans, which are not insurance. There are also many new insurance plans from carriers that no one has ever heard of pushing plans that sound like the greatest thing since sliced bread. None of these have passed our sniff test, and consequently, the only non-ACA plan that we recommend is Short Term Medical Insurance (STM). Because of the recent changes in the law, these plans can now be purchased for 12-36 months at a time.

Short Term Medical Insurance – STM

Due to recent changes in the law, these health insurance are now able to be purchased for 36 months at a time in many states.

STM plans are low-cost alternatives to costly ACA options. They are 100% real plans with large PPO networks. While these plans do not cover pre-existing conditions and typically provide very little in the way of prescription coverage, they offer maximum premium savings.

Conclusion on Outside Marketplace Health Insurance

In summary, shopping around for quotes on health plans is a smart step at every open enrollment. The more you understand what the private insurance market provides, the better your chances of finding the best plan for you. If you qualify for cost assistance, your best option will almost always be a subsidized marketplace plan.

Resources and References:

• Role of Health Insurance Brokers