How Exactly does the Health Insurance Marketplace Work?



For many Americans, health insurance is a luxury we assume we cannot afford. Unless our employer provides health insurance coverage, we are left uninsured and therefore avoid seeking any medical treatment unless absolutely necessary. This situation no longer need be the norm, as the health insurance marketplace enables everyone who desires health insurance coverage to acquire affordable. Let’s examine exactly how the health insurance marketplace works, and how it enables us to procure low-cost health coverage.


First, the marketplace www.healthcare.gov acts as a one-stop shop for anyone looking to procure health insurance coverage, as all major insurance providers list their available plans in the marketplace. This makes it easy to compare the coverage of plans across providers, enabling you to select a policy which includes coverage for any specific health concerns you may have. For those struggling with substance abuse disorders, you can ensure the policy you choose has sufficient mental and behavioral health coverage so you are able to seek treatment for your addiction.


The marketplace is able to offer these plans at a substantially reduced cost through the application of earned income tax credits towards your monthly premiums. As you go through the application process, you will estimate your income for the year in which you will be covered. The marketplace will determine the amount of earned income tax credits you qualify for based on this estimation, and as you shop for a policy the monthly premiums you will see are based on the tax credit having been applied.


The health insurance marketplace established as a result of the Affordable Care Act provides a conduit for all those seeking coverage to shop for and obtain a health insurance plan which is affordable to them. Those of us with a history of addiction, or those in active addiction, should absolutely avail themselves of this opportunity to procure health insurance coverage, as you never know when you may require substance abuse treatment.


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