What is a Marketplace Plan?

Have you ever wondered what the difference is between a Marketplace plan and Obamacare? Good news: They’re one and the same.

The Affordable Care Act (ACA), also known as the Patient Protection and Affordable Care Act, is the landmark healthcare reform legislation. It became the law of the land in the U.S. after President Barack Obama signed it in March 2010. The ACA primarily ensures that more people have access to more affordable and more comprehensive health insurance. It does this in a number of ways.

One of the biggest ways that the healthcare law expanded health insurance coverage to more people was by creating a way for people to shop for their own, high-quality health plans through something known as the Health Insurance Marketplace. The law also guaranteed that people could get most forms of preventive care at no cost, and that people could get the coverage they needed regardless of pre-existing conditions. Plans purchased by individuals for themselves and their families from the Health Insurance Marketplace are known as Marketplace plans. Some people also refer to these kinds of plans as Obamacare.


Recommended Articles

What to do if you lose your health insurance during COVID-19

Things in our personal lives are changing at the speed of light right now. Each day there is new information. We are constantly learning how to navigate the changing landscape in which we find ourselves. For many, these changes can include a reduction or complete loss of income and benefits as job hours are reduced… Read more

Your Guide to Marketplace Health Coverage

Obamacare, ACA, the Affordable Care Act, HealthCare.gov, the Marketplace, healthcare exchanges. Just deciphering the language can be confusing, and that’s before you even try to sign-up for health insurance! Then you need to determine what kind of coverage you’re eligible for, what it will cost, and which plan is best for you. It can seem… Read more

What do I do once I have applied for Marketplace insurance?

After you’ve completed the Marketplace application, there are a number of things you may have to do next before your coverage kicks in. You can complete all of these steps through HealthCare.gov or your free HealthSherpa account. Submitting required documentation You may be asked to submit documents to prove your qualifying life event, your income,… Read more