Healthcare Insurance Open Enrollment 3 Things You Need To Know Before Buying Health Insurance on the Exchange 

If you are confused by the application process or buying insurance on the Health Insurance Marketplace, or simply do not have the time or technical know how to navigate the online application, you should know you have options.

By now, you understand that the Affordable Care Act mandates if you are not covered under a health insurance plan that qualifies as minimum essential coverage you must purchase health insurance. computer keyboard 450pxl
Open enrollment began November 1st to apply for a 2016 health plan, renew your current plan, or pick a new plan through the Health Insurance Marketplace for qualified coverage to be in place on January 1, 2016.

The rules under the Affordable Care Act law can be difficult to interpret how certain provisions or exclusions apply to your personal situation. The bottom line is… if you can afford health insurance, but fail to buy it or choose not to buy it before the deadline, you must pay a penalty fee.

At Great Bay Insurance, I see a number of common misconceptions that I would like to help to clarify for consumers.

1. You have options on how and where to purchase your health insurance

• You can opt to purchase your health insurance through the Health Insurance Marketplace exchange.
• You can opt to purchase the same coverage available from the Health Insurance Marketplace, privately through a broker/agent.

It has been my experience that some consumers are not comfortable sharing their personal information on the exchange application or they have had difficulty navigating the online application. You can have an experienced agent/broker do this for you.
2. You can purchase health insurance through a qualified insurance agent or broker – even if you want to apply for a subsidy.

• You do not have to navigate the often complex and technically challenging online “exchange” on your own to purchase a plan.
• Your insurance agent or broker has access to the same plans available on the Health Insurance Marketplace and can submit the application on your behalf, sell these plans to you and apply any subsidy you are qualified for.
• When the same plans available on the Health Insurance Marketplace are purchased through your agent or broker, they are and must be exactly the same in cost, coverage and benefits.

If you do not qualify for a subsidy, your agent can still show you the cost of Health Insurance Marketplace plan options and their respective coverage and benefits.

3. You don’t have to go it alone or pay extra for a personal consultant.

• You do not pay a higher premium or commission to your agent or broker when you buy a Health Insurance Marketplace plan through them vs. directly purchasing online via the exchange.
• The insurance company compensates agents and brokers to act as consultants and sales representatives to serve you in purchasing these products.
• When questions or problems arise, you have a direct line to your personal agent or broker who will be available to advise you and serve as an advocate to help you resolve a problem.

If you are new to this requirement, I can show you your 2016 health insurance plan options and premiums based on your estimated income. This means, I can also help you determine if you qualify for financial help with a subsidy to lower your premium costs.

If you have a 2015 Marketplace plan, I can also update your application with any household or income changes to compare your 2016 health plans and price options to your current coverage.

As your Great Bay Insurance agent, I am experienced and educated in navigating the complexities of the insurance market to work with you in making an informed and confident decision. Remember, there is no extra cost to you for my services. I welcome a meeting to discuss your personalized options.
Request an Appointment Online or Call me at 603.743.4247 to schedule today. With the end of year approaching, appointments are booking up quickly!

Your GBI broker, 

Sandy