Finding a healthcare plan that meets a person’s medical and financial needs can be overwhelming. This is especially true for those who lost employer-sponsored health insurance during the COVID-19 outbreak. The Health Insurance Marketplace (HIM or Marketplace) offers many levels of coverage, provider networks and prices to meet a wide range of preferences.

What is the Health Insurance Marketplace?

The Marketplace was established in 2010 as part of the Affordable Care Act, or Obamacare, to connect individuals to affordable health insurance. It provides Americans with the resources to purchase federally regulated and subsidized healthcare coverage.

What do Marketplace plans include?

Each health insurance plan covers a list of essential benefits:

• Emergency care
• Outpatient care
• Doctor visits and wellness checks
• Maternity and newborn care
• Substance abuse care
• Mental health care
• Laboratory services
• Prescription coverage
• Therapy
• Hospitalizations
• Pediatric care
• Vision and dental (some plans)

Telehealth services are also available under certain plans to connect members to a network of doctors over the phone or internet.

What is subsidized healthcare?

Subsidized healthcare provides qualified individuals with coverage at reduced rates. These government credits, or subsidies, result in lower monthly payments so coverage is more affordable.

What is “in-network”?

It is important to know which doctors and hospitals are available within each network. If an enrollee has a preferred doctor or hospital, they should ensure these care providers are included in the provider network of the plan they choose. If not, care may not be covered by insurance and the plan holder may have to pay out-of-pocket costs.

When can I enroll?

Open enrollment is available starting November 1 and ending January 15, 2021. Individuals can also enroll during special enrollment periods, which take place due to qualifying life events such as getting married, having a baby or losing a job.