You can sign up for health insurance through the federal Marketplace at HealthCare.gov from November 1, 2024, to January 15, 2025. Want your coverage to start on January 1? Then make sure to enroll by December 15.
Some states have their own Marketplaces with different enrollment dates. If you’re unsure about the rules in your state, reach out to your state’s insurance department for help.
Why Choose a Marketplace Plan?
If you don’t have health insurance through your job and aren’t eligible for Medicare, Medicaid, CHIP, or other programs, a Marketplace plan could be a great option—as long as you qualify.
What Do Marketplace Plans Cover?
According to HealthCare.gov, all Marketplace plans include:
- 10 essential health benefits like:
- Prescription drugs
- Emergency care
- Hospital stays
- Lab tests
- Mental health and substance use treatment
- Free preventive care, like screenings and check-ups, when you visit a provider in your plan’s network
- Coverage for pre-existing conditions—no one can be denied coverage based on past health issues
Also Read: What is the Cheapest Health Insurance in Michigan?
Already Have a Marketplace Plan?
If you’re already enrolled, take time to review and update your information. If your income or household has changed, you might qualify for more financial help or find a plan that better fits your needs or budget.
What Should You Look for When Enrolling?
If your current plan won’t be offered in 2025, you’ll get a notice from your insurance company or the Marketplace. Even if your plan is still available, it’s a good idea to double-check that your doctors and hospitals are still in-network.
Shopping for a new plan? Here’s a quick look at the options:
- Bronze, Silver, Gold, and Platinum: These plans differ in how you and the insurer split costs. Bronze usually has the lowest monthly premiums but higher out-of-pocket costs, while Platinum has higher premiums but lower costs when you get care.
- Catastrophic plans: These are only for people under 30 or those who qualify due to financial hardship. They offer very low monthly costs but come with a high deductible.
Also Read: How does Coinsurance Work in Medical Billing?
Helpful Tools
Want help comparing plans? Use the NAIC’s Health Insurance Shopping Tool. It guides you through a simple 3-step process to help you understand and compare policies based on your needs.
