What is the Health Insurance Marketplace?

By Halli Sell, Director of Revenue Cycle

The new Health Insurance Marketplace will be open for business beginning in October, 2013. There is no doubt consumers have been starting to hear about the Health Insurance Marketplace, a key part of the new health care law. However, several probably still have questions. Many are unsure what the marketplace is and whether or not they can really get insurance or how they will afford it.  Trinity Hospital Twin City (THTC) is diligently preparing to help equip patients and consumers with accurate information and tools to tackle the enrollment process which begins on October 1, 2013 and lasts through March 31, 2014.

The best place for the latest, most accurate, information on the Marketplace is the updated website, HealthCare.gov. On this site, consumers can learn what the Marketplace is, who can apply for insurance, how to get insurance, how to lower your costs, and more. Small business owners may also get information from this site.

Additionally, the Marketplace allows consumers residing in all locations to buy insurance from private health plans that cover a comprehensive set of benefits including doctor visits, hospital stays, preventive care, and prescriptions. By law, plans in the Marketplace must treat consumers fairly; they cannot deny coverage because of gender or a pre-existing condition. With a single application, consumers can also see if they qualify for Medicaid or the Children’s Health Insurance Program, or savings they can use right away to lower their health insurance premiums.

Despite all of this information available on the website, Trinity Hospital Twin City (THTC) knows that many of these terms are likely still confusing to some. We acknowledge that the process may be unclear, especially for those who have never before carried health insurance. We can help! We are updating our website and developing informational packets in order to be able to assist patients and community members.  Through education and training, the same reliable THTC financial assistance staff, with whom the public is accustomed to dealing, is currently preparing to help these individuals with the process of enrolling in a health insurance plan.  We can help consumers explore every qualified health plan in the area, fill out an application, and compare benefits and prices in order to prepare consumers to make a choice. Also, throughout the enrollment period we will be actively involved in community outreach at various locations and events to help educate consumers.

Consumers should be actively participating in their own education through the Healthcare.gov website or by contacting your local community hospital for assistance. Effective 2014, under the Patient Protection and Affordable Care Act, health insurance coverage will be mandatory. The fee in 2014 is 1% of yearly income or $95 per person for the year, whichever is higher. The fee increases every year. Please contact Trinity Hospital Twin City Financial Assistance at 740-922-2800 for more information about how we can help.

For more information, view this video from the Catholic Health Association: 

http://www.youtube.com/watch?feature=player_detailpage&v=K5N1j_StJuE