Is there any advantage to a health insurance plan on a state exchange compared to group health benefits? Our group health benefits have been awful the last four years.
Various individuals who work with us insist they have gotten far better rates, with less out of pocket costs, on the state exchange. Anyone have any experience with an exchange plan?
I know at least one major insurer pulled out of the exchange in MA. Seems there were many insurers I don’t know, & am afraid I’d get a card, but have a problem finding a doctor who accepts it.
Are there savings with these plans? Is it easier to lose an individual plan if you’ll actually require treatment? Worthwhile, or too good to be true?
No, you cannot be kicked off any individual plan because you use it. You could before ACA was passed and there was no law to protect those with pre-existing conditions. Also, an insurance company could simply refuse to sell you health insurance if you had any pre-existing condition. There were also caps on how much insurance companies were required to pay out. For example $1million - which can be easily reached with a cancer diagnosis or a preemie baby, for example. Under ACA, an insurance company can no longer have a cap.
Of course, those parts of ACA may go away as the R’s try to kill ACA. Death by a thousand cuts.
Whether an ACA marketplace plan is better than your employer’s health ins. plan, depends on many factors.
If one qualifies for a subsidy, an ACA plan may indeed be less expensive and/or have a better network than what your employer offers. You need to look at each network and see if the doctors/hospitals in each network are ones you are okay with.
You can go on your state’s marketplace site and look through all the different plans and what it wouid cost and the networks. Then run the numbers.
You must do it soon though as the enrollment period is coming up. Nov 1st - Dec 15th. It’s been shortened since Trump was elected.
