How Do I Choose a Plan on Healthcare Gov
People often ask “how do I choose a plan on healthcare gov?” In a bid to shop for your own health insurance; you might have probably come across HealthCare.gov. You may still be wondering what exactly this website is and how it works. This post will cover these areas in addition to guidance in choosing a health plan and categories of plans on healthcare gov.
What is Healthcare gov?
Before choosing a health insurance plan, it is highly essential to have a general knowledge of the marketplace. In view of this, “What is healthcare gov?” It is the website of health insurance marketplace which is being run by the American government and which helps to implement the Affordable Care Act (ACA). Almost everyone in the United States has been mandated by the Affordable Care Act to get health insurance.
When one enrolls in the marketplace, he or she may be eligible for subsidies that can significantly lower health insurance costs. While HealthCare.gov is the federally-run exchange of the Marketplace, some states have their own exchanges for individual and family health plans.
How Does HealthCare.gov Work?
The insurance marketplace has been explained above, but one may still ask “how does HealthCare.gov work?” There is an annual open enrollment period when anyone can enroll in a new health insurance plan. To do this, they visit HealthCare.gov or their state’s healthcare marketplace for plans shopping. They can also determine their eligibility for monetary assistance with their premiums. When the open enrollment ends, whoever has not enrolled must have a qualifying life event to enable him or her get enrolled during a Special Enrollment Period (SEP).
After enrollment, log into your HealthCare.gov or state exchange marketplace and pay your monthly premium. Note that your payment goes straight to your insurer, not the healthcare exchange on which you enrolled. With the website, you can also cancel your health insurance plan whenever you wish.
How do I Choose a Plan on Healthcare gov?
How do I choose a plan on healthcare.gov? Here is a guide to choosing a plan on Healthcare.gov:
• Create a Marketplace account or log in
To get a Marketplace account, call the marketplace on 1-800-318-2596 (TTY: 1-855-889-4325). A customer care representative can help you submit an application over the phone. However, if you have a Marketplace account already, all you need doing is to log in with your username and password.
• Enter your Application ID
Locate “Find my existing application” and select it to enable you input your Application ID.
• Locate plans, compare them and enroll
You can now access the plans available to you, compare them, opt for your choice and enroll.
• Pay your premium
Once the enrollment process ends, you are required to pay your first month’s premium to effect your coverage.
This payment is made to your insurance company and not the Marketplace.
Categories of Plans on Healthcare gov
The categories of plans on healthcare gov are Bronze, Silver, Gold, or Platinum. The plans with the lowest monthly premiums and the highest out-of-pocket costs are the bronze plans while those with the highest monthly premiums and the lowest out-of-pocket costs are the platinum plans.
The entire plans qualify for premium tax credits, which one can use to pay for health insurance, provided he or she meets the income-based qualifications.
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