ACA Coverage Purchasing Options

Some insurance companies may sell private health plans outside the Health Insurance Marketplace that meet the Affordable Care Act (ACA) requirements for minimum essential coverage.

However, there’s one important difference: Marketplace plans are the only plans that allow you to get subsidized on your monthly premiums based on your income.

Four Ways to Buy a Health Plan

If you don’t meet the income requirements for subsidies, you can get coverage in one of four ways:

Short Term Medical Insurance

SHORT TERM MEDICAL

Short term health insurance for temporary gaps in coverage.

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or

Get a Quote

  1. Directly from an insurance company: You can use the Plan Finder website provided by HealthCare.gov to find information about private health insurance plans available outside the Marketplace.

  2. With the help of an insurance agent or broker: A broker acts on your behalf by helping you find the health insurance coverage that best fits your budget and meets your needs. An insurance agent represents an insurance company and can help you select a plan from that company.

  3. From an online health insurance seller: Online services offer health plans from a variety of different insurance companies. One such seller is eHealth, where you can find anything from general health insurance to something specific like vision or dental insurance.

  4. Through the Marketplace: You can apply and enroll through the Health Insurance Marketplace regardless of whether you qualify for lower premium costs.

Getting the Coverage You Need

According to Modern Healthcare, roughly two-thirds of Preferred Provider Organization (PPO) plans on the insurance exchanges are either being dropped or reduced for 2016, an effort by insurers to save on costs. Since networks of hospitals and doctors will be narrower than in previous years, it’s important to do your homework and make sure you are purchasing the coverage you need.

As you investigate your coverage options, you may want to consider looking into Short Term Medical (STM) insurance, underwritten by HCC Life Insurance Company. STM is designed to cover you throughout temporary situations of one month or longer, and you can tailor it to your needs by selecting the length of coverage, deductible, and coinsurance.

Though STM isn’t ACA compliant, it can cover you through the 15-to-45-day coverage gap caused by open enrollment policy start dates, or cover you while you make your decision regarding a long-term health plan.

Get Short Term Insurance

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