COVID-19 Resources
ACA Marketplace Health Insurance
“What is Marketplace Coverage?”
- The marketplace was created following the passage of the Affordable Care Act of 2010, an Obama Administration-initiative intended to ensure all Americans have health insurance.
- The marketplace is accessible to those who don’t have access to health insurance through employer-sponsored plans.
- The marketplace enables various insurers to compete for customers by offering a variety of plans based on cost and need.
- Individuals can compare and apply for plans via the marketplace during the open enrollment period. Typically, this period takes place in November and December of the year prior to the year in which the coverage will take effect. Consumers can apply for a special enrollment period in the case of a qualifying event such as the birth of a child, marriage or the loss of another insurance plan.
- The marketplace categorizes plans into four tiers: bronze, silver, gold, and platinum, in the order of least to greatest coverage.
- The marketplace must accept everyone regardless of any pre-existing conditions.
Private Insurance Coverage
- Depending on your area, some people have access to private insurance outside of the marketplace.
Catastrophic Coverage
Catastrophic health insurance plans usually have low monthly premiums and very high deductibles. They may be an affordable way to protect yourself from worst-case scenarios, but you pay for most routine medical expenses yourself. Unlike traditional Marketplace plans, you cannot use a premium tax credit to reduce monthly premiums.
Only the Following People are Eligible to Buy a Catastrophic Plan:
- People under 30
- People of any age with a hardship exemption or affordability exemption (based on Marketplace or job-based insurance being unaffordable)
What Catastrophic Plans Cover:
- Catastrophic plans cover the same essential health benefits as other Marketplace plans. Like other plans, Catastrophic plans cover certain preventive services at no cost.
- At least 3 primary care visits per year before you’ve met your deductible.
Short-Term Medical
- Short term health insurance is a type of health plan that can provide you with temporary medical coverage when you are between health plans, outside enrollment periods, and in need for emergency coverage.
- These types of plans are not required to comply with the Affordable Care Act (ACA) guidelines and therefore do not cover any pre-existing conditions.
- Short term medical insurance typically provides some level of coverage for preventive care, doctor visits, urgent care, and emergency care but only for a limited period of time, most commonly at a maximum term of one year
Alternative Bundle Plans
CREATED WITH THE HEALTHY PERSON IN MIND
These plans are very customizable and can include coverage for doctor/specialist visits, telemedicine, urgent care, critical Illnesses, accidents, hospitalizations, prescriptions, dental, vision, and/or life insurance. Great way to get the coverage you want at an affordable cost.
1. Live Longer
Most obvious benefits of living a healthy lifestyle and main reason why most people exercise and eat healthily. One study estimates that only drinking alcohol in moderation, not smoking, exercising regularly, and eating a healthy diet can extend your life by up to 14 years.
2. Feel Better About Yourself
Living a healthy lifestyle can make you feel more confident than ever before. Exercising can release hormones to your brain that enhance your mood and provide you with a sense of euphoria. Higher self-esteem can lead to a more satisfying life.
3. Life Insurance is Cheaper
One of the primary considerations you’ll have is the need to purchase life insurance to protect your family in the event of your death. Whether it’s a term life insurance or whole life insurance policy, you’ll face lower premiums when you live a healthy lifestyle.
4. Control Stress
The modern world we live in is undoubtedly stressful. Those who live a healthy lifestyle have been proven in clinical studies to have lower levels of stress and anxiety.
5. Avoid Addictions
No matter what kind of addiction may affect you, a healthy lifestyle filled with exercise can limit your desire for the addictive substance. Whether your vice of choice is food, drugs, or alcohol, exercising and eating right can help ease your craving.
6. Protect your Sight
This may not be a well-known aspect of living a healthy lifestyle, but your eyesight can be protected by a healthy and proper diet. Better vision as we age can be obtained with regular cardiovascular exercise.
7. Lower Medical Costs
This may seem like a no-brainer, but medical expenses are the #1 cause of bankruptcy among seniors. If we take the time and effort now to develop the habits that keep us healthy, we’ll ultimately win in the end and save a fortune on medical costs.
8. Increase Fertility
If you are looking for a fertile future with lots of children, the gym is the place to go. Studies conducted by Harvard University researchers showed a higher sperm level among males who exercised regularly and a nutrient rich healthy diet in the year prior to getting pregnant has been associated with a lower rate of birth defects.
9. Serve as a Good Example
Exercising regularly and living a healthy lifestyle will rub off on those around you. When your children and grandchildren see you exercising and eating healthily, they will be more likely to follow your example.
