What is the Health Insurance Marketplace?
On October 1, 2013, the Health Insurance Marketplace will be a new way for individuals, families and even small businesses to get healthcare. The Health Insurance Marketplace will give you more choice and control over your healthcare options and is designed to help you find health insurance that fits your budget, with less hassle. You’ll be able to get information about all the plans available in Indiana by going to the Health Insurance Marketplace web site. You’ll be able to enroll yourself, directly through the website, or call a toll-free phone hotline. Health plan coverage begins the first of January in the year 2014.
How much will insurance cost me in the Health Insurance Marketplace?
Many people will be able to get a break on costs through the Marketplace, even if you think your income is too high to get any help. You can fill out one application and see all the programs you may qualify for. People who make less than $46,000 a year will get a break on costs, and a family of 4 may get a break on costs if they make less than $94,000 each year. The lower your income, the less you have to pay. Here are a couple examples to give you an idea of the cost:
*A 30 year old single person who makes about $16,000 a year would pay about $540 a year for health insurance (that’s about $45 a month).
*A single person who makes around $30,000 a year would pay about $2,500 a year for insurance (that’s about $208 a month).
*A family of four that makes about $32,000 a year would pay about $1,030 a year for insurance for the whole family (that’s about $85 a month).
*A family of four that makes about $64,000 a year would pay about $5,580 a year for insurance for the whole family (that’s about $465 a month).
To learn more about the Health Insurance Marketplace feel free to visit the “Marketplace” page of the website or give a call to our office!