When shopping for health insurance, you’ll come across two main options: Marketplace plans and plans purchased directly from insurance carriers. While both can provide quality coverage, there are key differences to consider.

Marketplace plans, offered through the Health Insurance Marketplace, were created under the Affordable Care Act (ACA). These plans must include essential health benefits, like doctor visits, hospital stays, preventive care, and prescription drugs. One of the biggest advantages is financial assistance. If you meet certain income requirements, you could qualify for subsidies or tax credits to lower your monthly premiums and out-of-pocket costs. This makes Marketplace plans an excellent option for those looking for affordability and comprehensive coverage.

On the other hand, plans purchased directly from insurance carriers are not part of the Marketplace. These plans often provide similar benefits, but they don’t qualify for government subsidies. This means you’ll pay the full premium out-of-pocket. However, direct carrier plans might offer more flexibility or specialized options not found on the Marketplace, which could be appealing to those who don’t qualify for subsidies.

Ultimately, the choice between the two depends on your budget, healthcare needs, and eligibility for financial assistance. Need help deciding? Contact us to find the best plan for you!