Retail vs. Marketplace Plans
When purchasing individual health insurance, you can purchase a plan from carriers or find a plan through the Marketplace. The Affordable Care Act allows the government to pay for part of the plans offered in the Marketplace for individuals whose income qualifies them for the reduced rate.
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Open enrollment
Purchasing an individual plan is limited to a specific time period every year unless you have a special enrollment event. That period runs from November 1 through January 15.
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Coverage options
Individual insurance plans can cover the same things that employer-paid plans will: doctor visits, hospital stays, prescription drugs, and more.
Frequently Asked Questions
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Individual Health Plans are limited to an annual open enrollment period which runs from November 1 to December 15 each year, for coverage beginning January 1, or December 15 to January 15, for coverage beginning February 1. For certain special enrollment periods (such as divorce, loss of other coverage, and more), you can buy a plan when that event occurs.
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The Affordable Care Act is legislation that authorized government subsidies for individual health insurance, which most often has higher premiums than employer-provided group plans. If your income meets the guidelines, you may be eligible for a plan with lower out-of-pocket premiums.
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Individual plans cover the same benefits as group plans will. ACA plans must cover certain things, including prescription drugs, pregnancy, lab services, emergency services, and more.
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