Health Marketplaces and State Exchanges

Due to the evolution of the Affordable Care Act, there have been states across the country who have created health insurance marketplaces, more commonly known as healthcare exchanges. The purpose of the state exchanges is to allow the residents of the state to navigate the options available from various insurance companies. Even though theses exchanges are independent from the insurance companies themselves, they do offer a detailed look at the various options available.

“State-based” health insurance exchanges

State-based health insurance exchanges allow states to operate their specific marketplaces and are responsible for the overall performance of the marketplace functions for the individual consumer. The consumer has a responsibility to apply and enroll for coverage through these specific marketplace websites. In addition, the states are responsible for the customer support of the individual along with small businesses as they select and purchase their plans.

States with their own state-based health exchanges include:

• California
• Colorado
• Connecticut
• District of Columbia
• Idaho
• Maryland
• Massachusetts
• Minnesota
• Mississippi
• New Mexico
• New York
• Rhode Island
• Utah
• Vermont
• Washington

When to enroll in health insurance

It is vital that you know the enrollment period as enrolling into a new plan is no longer a year-round process as it relates to the individual market. There are two such periods for enrollment, and they are called the Annual Open Enrollment Period and the Special Enrollment Period.

Annual Open Enrollment Period

During the Annual Open Enrollment Period, also known as “OEP,” any and everybody may view the healthcare plans available and also enroll. As of 2019, this period is from November 1, 2019 to December 15, 2019. By the same token, those states that offer state-based health exchanges have flexibility in their enrollment periods, so please check your respective state to learn more details.