Marketplace Insurance Ohio: Your Guide to Affordable Coverage in 2023

The Affordable Care Act (ACA) has made health insurance more accessible and affordable for millions of Americans. In Ohio, the Health Insurance Marketplace is the primary way to purchase health insurance plans that meet the ACA's requirements.

What is the Health Insurance Marketplace?

The Health Insurance Marketplace is a website where you can compare health insurance plans from different insurers and enroll in a plan that meets your needs and budget. You can also apply for financial assistance to help pay for your premiums.

Who is Eligible for Marketplace Coverage?

Most Ohioans are eligible for Marketplace coverage, including:

• U.S. citizens and legal residents
• Individuals and families with incomes below 400% of the federal poverty level (FPL)
• Individuals and families who do not have access to employer-sponsored health insurance

How to Enroll in Marketplace Coverage

You can enroll in Marketplace coverage during Open Enrollment, which runs from November 1 to January 15 each year. You can also enroll outside of Open Enrollment if you experience a qualifying life event, such as:

• Loss of job
• Marriage
• Birth of a child

To enroll in Marketplace coverage, you can:

1. Visit the HealthCare.gov website
2. Call the Marketplace Call Center at 1-800-318-2596
3. Get help from a certified enrollment counselor

Financial Assistance for Marketplace Coverage

Financial assistance is available to help eligible individuals and families pay for Marketplace coverage. This assistance is based on your income and family size.

In 2023, an estimated 9.6 million Americans will receive financial assistance through the Marketplace. The average premium tax credit for 2023 is $1,406.

Types of Marketplace Plans

There are four types of Marketplace plans available in Ohio:

• Bronze plans: Bronze plans have the lowest monthly premiums but the highest deductibles and out-of-pocket costs.
• Silver plans: Silver plans have moderate monthly premiums and deductibles.
• Gold plans: Gold plans have higher monthly premiums but lower deductibles and out-of-pocket costs.
• Platinum plans: Platinum plans have the highest monthly premiums but the lowest deductibles and out-of-pocket costs.

How to Choose a Marketplace Plan

When choosing a Marketplace plan, it is important to consider your:

• Monthly budget
• Health needs
• Prescription drug needs
• Provider network

You can also use the Marketplace's Plan Comparison Tool to compare plans side-by-side.

Marketplace Insurance Ohio: Frequently Asked Questions

1. How much does Marketplace insurance cost in Ohio?

The cost of Marketplace insurance in Ohio varies depending on your income, family size, and the type of plan you choose. However, financial assistance is available to help eligible individuals and families pay for coverage.

2. What are the income limits for Marketplace coverage in Ohio?

In 2023, the income limits for Marketplace coverage in Ohio are:

• Individuals: Up to $53,000
• Families of four: Up to $106,000

3. How do I apply for Marketplace coverage in Ohio?

You can apply for Marketplace coverage in Ohio by visiting the HealthCare.gov website, calling the Marketplace Call Center at 1-800-318-2596, or getting help from a certified enrollment counselor.

4. When is the Open Enrollment period for Marketplace coverage in Ohio?

The Open Enrollment period for Marketplace coverage in Ohio runs from November 1 to January 15 each year.

5. What is the penalty for not having health insurance in Ohio?

In 2023, the penalty for not having health insurance in Ohio is $1,200 per adult and $300 per child. However, there are exemptions to this penalty, such as if you are low-income or have religious objections to health insurance.

6. What is the difference between a deductible and an out-of-pocket maximum?

A deductible is the amount you have to pay out-of-pocket before your insurance starts to cover your medical expenses. An out-of-pocket maximum is the most you will have to pay out-of-pocket for covered medical expenses in a year.

7. What is a copay?

A copay is a fixed amount you pay for a specific medical service, such as a doctor's visit or prescription drug.

8. What is a coinsurance?

A coinsurance is a percentage of the cost of a medical service that you pay after you meet your deductible. For example, if you have a coinsurance of 20%, you will pay 20% of the cost of a medical service after you meet your deductible.