Introducing the Virginia Insurance Marketplace: An Introduction to common terms to know when shopping for a health plan.

Enrolling in health and dental coverage through the Federally Facilitated Marketplace using the federal website "www.healthcare.gov" is still where a good portion of consumers apply for and receive affordable health care. However, according to the Centers for Medicare & Medicaid (CMS), there are now 18 states and the District of Columbia that operate their own State Based Exchanges. Virginia is one of those states that began operating their own SBE starting in Plan Year 2024. People often as if the coverage from an SBE is the same and can they still be eligible for an Advanced Premium Tax Credit. I've found too that many seeking coverage have never had health coverage before and have a difficult time understanding the various types of payments and how much their health plan covers. The Virginia Insurance Marketplace makes things simple to understand in short videos and more expansive information as well.

Does a state based exchange still provide me with the same benefits I have obtained on healthcare.gov in the past?

Answer: Yes. State based exchanges offer all the Qualified Health Plans that are ACA compliant and are managed by the states themselves, possibly tying in access to state programs such as Medicaid Eligibility.

What exactly is the Virginia Insurance Marketplace?

Video shared from: https://www.marketplace.virginia.gov/

Starting with the basics. The Virginia Insurance Marketplace provides helpful videos and assist with the application and enrollment process. Their assisters can help you with the process, but only a licensed health insurance agent in Virginia is allowed by law to advise and enroll consumers in ACA health coverage. The marketplace provides a list of licensed agents that are in your area that you may call directly for assistance. Working with an agent can add a level of comfort as a resource in helping you understand how much coverage you need, and the plan to suit your health needs while remaining affordable.

Video shared from: https://www.marketplace.virginia.gov/faqs