By January next year, the implementation of the new healthcare law will start, but is that bad news or good news for plan holders? Will the insurance policy you get from the health insurance marketplace be any different from the ones that you get from the insurance companies themselves or through the help of their agents? If you are like most people and you want to learn more about how this new law will affect you, then you should continue reading to find out.
Basically, there should be no difference between the kind of insurance that you can get from the Marketplace and from insurance companies, mainly since the insurance policies in the Marketplace still come from the private companies themselves. The Marketplace is basically a repository of information regarding all the different health care policies available in your area; here you can compare prices and benefits, and also purchase the policy that is suited to your needs.
The great thing about the Marketplace is that the government monitors the insurance policies that are being sold there so an increase in rates will not be allowed unless they are first justified. And another thing; when you finish filling out the application in the Marketplace and submit it, you will find if you are eligible for low cost insurance like Medicaid (this is based on the size of your family and the amount that you make annually).
All health insurance by 2014 should also cover the same set of essential health benefits as required by the new law. These essential benefits include doctor’s visits, hospitalization, mental health care, and others. A notable difference that will take place once the new healthcare law is implemented is that you can no longer be refused coverage if you have a pre-existing medical condition. If anything will change in health insurance, it’s the fact that people will be better protected than ever.
It does not matter where you get health insurance from, by 2014 they will all have the same benefits so you can expect the same kind of services notwithstanding where you got it from. If you have to choose between getting insurance from the Marketplace and somewhere else, then the Marketplace is a better option in many people’s opinion because it is simpler and provides more information so you can make a better choice.