Being without health insurance can present a lot of problems. Not only could it prevent a patient from being treated, but there are tax penalties imposed for those who don’t have any. As a healthcare provider, you can provide support for your patients and avoid these stresses by understanding key details.
Who’s the Marketplace for?
Before filing any application, your patients should know who the health insurance marketplace is for. It is specifically designed for those who don’t have health insurance.
If your patients don’t have insurance through a job, they can use the marketplace to find insurance. Make sure your patients know that they can’t use this marketplace if they already have Medicaid.
There are different costs your patients should be aware of when searching the marketplace. These costs include premiums, copays, coinsurance, deductibles, and out-of-pocket maximums. Premiums are what a person pays up front, and copays are what people pay before their deductibles.
Some costs, including deductibles, will be lower if your patients have Medicaid or CHIP. Copays tend to be more important if they are looking for a high deductible type of plan. Make sure your patients focus on the deductible because they may have to pay it at once after insurance has kicked in.
Knowing these details about new health insurance marketplace coverage options gives you and your patients a better idea of what to look for. You can then help them make a better decision for themselves and their families as well.