Marketplace Health Plan (OBAMACARE)

What is the Affordable Care Act and what do you need to know?

The Affordable Care Act (ACA) is a law that was written with the primary intent to provide healthcare coverage at an affordable price to those people that earn between 100% – 400%  of the Federal Poverty Level (FPL).

Requirements for eligibility:

  • Must be legal permanent residents and/or US Citizens
  • Currently do not have Medicaid/Medicare
  • Must not be incarcerated
    Anyone paying for  individual insurance and/or on a COBRA policy as well as anyone that works but their employer does not offer them health insurance, should find out if they qualify for the premium tax subsidy.
Tax credits are offered to the consumers as an Advance Premium Credit or as a Tax Credit/Subsidy payment at the end of the year when taxes are filed. The consumer must select the preferred method at the point of application. Yes, this means that the government will pay the subsidized amount monthly directly to the carrier you select and you pay the difference or you can pay the entire premium amount to the carrier and receive the tax credit as a lump sum when you file your taxes.
A Certified Marketplace local broker/agency like Insuring Sources, Inc. may be the most knowledgeable about the carriers’ plan specifics and their local networks. We can assist the consumer in pre-qualifying, selecting a carrier that best meets their needs and can assist with all the required applications (in the marketplace and with the specific carrier). Our agency will help you select the health carrier that is best for you. 

To enroll for 2018, consumers must apply between 11/1/2017 – 12/15/2017. 

After those dates, the consumer will have to wait until November 2016 to enroll in 2017 unless they have a qualifying event that allows them to enroll when specific personal circumstances permit.
To learn more, Contact Us today!