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Everything you need to know about applying for Obamacare.
Obamacare is another name for the Affordable Care Act and is also used to refer to the subset of health insurance plans that require state and federal checks and that you may qualify for and use subsidies on.
This subset of health insurances plans may also be referred to as marketplace plans, as the health insurance marketplaces are the main way individuals apply for and purchase these plans. These health insurance plans are available on the federal and state exchanges as well as private exchanges that offer marketplace plans, such as PolicyGenius.
To see if you qualify for a subsidy, fill out the application on Healthcare.gov or your state exchange during Open Enrollment (November 1, 2018 - December 15, 2018) or during your Special Enrollment Period. The application will ask you about your projected income for the next year, as well as basic information about you, such as your address. With this information, Healthcare.gov will be able to tell you if you qualify for a subsidy, called a "premium tax credit," and how much that subsidy will be.
You can continue your health insurance search on Healthcare.gov or your state exchange, or shop through a private broker that also offers marketplace plans. Once you apply for and purchase a plan, you can choose to have your premium tax credit applied on a monthly basis, which will reduce the monthly cost of your health insurance plan, or on your tax return.
Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.
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Yes, we have to include some legalese down here. Read it larger on our legal page. Policygenius Inc. (“Policygenius”) is a licensed independent insurance broker. Policygenius does not underwrite any insurance policy described on this website. The information provided on this site has been developed by Policygenius for general informational and educational purposes. We do our best efforts to ensure that this information is up-to-date and accurate. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Savings are estimated by comparing the highest and lowest price for a shopper in a given health class. For example: for a 30-year old non-smoker male in South Carolina with excellent health and a preferred plus health class, comparing quotes for a $500,000, 20-year term life policy, the price difference between the lowest and highest quotes is 60%. For that same shopper in New York, the price difference is 40%. Rates are subject to change and are valid as of 2/17/17.
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