You may have recently heard the term Off Exchange Health Insurance and wondered what exactly that was.
Off Exchange Health Insurance is a relatively new term that came in to play when the ObamaCare subsidy started being offered through the marketplace health care exchange federally. Though initially millions of Americans flooded the government website excited about the potential savings they would find, many were disappointed to find that they did not qualify for any type of subsidy at all due to income level.
From this need, Off-Exchange Health insurance was born. There is now an ever-growing number of plans available in the Jacksonville, Florida area through insurance brokers such as Thomas and Associates Insurance Guidance. They are able to offer a wide range of premiums and coverages to fit your needs.
When choosing health insurance its vital to consider more than just the monthly premium.
Remember to take a look at the network and check to make sure that your doctor(s) are included in network and take a look at deductible levels, coinsurance, and co pays. It can be time consuming and confusing which is why we exist. Thomas and Associates Insurance Guidance was formed to help guide individuals and companies so that they can find the very best policies for their needs and those of their employees.
Important Key Factors
Whether you qualify for a subsidy or not you are not required to purchase a policy through the government marketplace. It can be beneficial to compare the two side by side. With off exchange insurance you gain access to an overall larger number of health benefit choices. The government marketplace only requires the 10 minimum essential benefits to be covered in order for the insurance companies to qualify and sell through them.
- Laboratory services
- Emergency services
- Prescription drugs
- Mental health and substance abuse disorder services
- Maternity and newborn care
- Pediatric services
- Rehabilitative and habilitation services and devices
- Ambulatory patient services
- Preventative and wellness services & Chronic disease management
With a plan that is sold off the exchange, you may have access to a greater number of doctors, hospitals, and treatments. You may also widen your choice on medications that are available at a discount.
It is important to note that if you do purchase a plan outside the government marketplace you can’t get premium tax credits or other savings based on your income. This goes for time periods during open enrollment as well as those times when enrollment has closed.
These off exchange plans do meet all of the requirements set forth by the health care law, including coverage of pre-existing conditions, free preventive care, and no cap on annual benefits.
You cannot find any of these off exchange policies through the standard government website. It is recommended to talk with a qualified professional agent through Thomas and Associates Insurance Guidance of Jacksonville, Florida. Visit www.healthinsurancethomas.com to learn more. They can be reached by calling 904-730-3900 and have associates who are fluent in both English and Spanish.
Whether you are shopping for your self, your family, group health insurance, small business health insurance or even employers insurance we can help.