HEALH
Health insurance plans can cover a wide range of medical services and care. They often include preventive and non-preventive care, as well as emergency care, behavioral health care, and sometimes vision and hearing care.
A Health Insurance Marketplace, also called a health exchange, is a platform where individuals, families, and small businesses can shop for and enroll in health insurance plans. These marketplaces, established under the Affordable Care Act (ACA), offer a variety of plans, including those with government subsidies, making it easier for people to find affordable coverage.
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Here's a more detailed explanation:
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What it is:A health insurance marketplace is essentially a shopping mall for health insurance, providing a central location to compare and purchase plans.
How it works:Individuals and families can browse different health insurance plans, compare their benefits, costs, and networks, and apply for coverage through the marketplace.
Financial Assistance:The marketplace also offers financial assistance in the form of premium tax credits and cost-sharing reductions, helping individuals and families afford their premiums and out-of-pocket expenses.
Each state has its own health insurance marketplace, either run by the state or managed by the federal government through HealthCare.gov.
Small Business Options:In some states, small businesses can also buy coverage for their employees through the Small Business Health Options Program (SHOP) Marketplace plans.
Essential Benefits:All plans offered through the Marketplace must cover the ten essential health benefits mandated by the ACA.
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