"Exchanges" are open, but what does that mean?

What is the Health Benefit Exchange or Government plan?

The “Marketplace” is the new name for the Health Insurance Exchange.  In Maryland, the name is the Maryland Health Benefit Exchange. In Virginia and Pennsylvania, there is no state run “exchange.” These new exchange-Marketplaces are designed for those who do not presently have coverage, or for those looking for an Advanced Premium Tax Credit (aka premium subsidy). There is no “government plan”, the Exchange-Marketplace is only a way to access coverage offered by participating insurance companies.

When is coverage available through the Marketplace?

Although the Marketplaces are now open for business, the coverage is not effective until January 1, 2014.

Does the new Health Insurance Exchange-Marketplace change the traditional marketplace?

Coverage continues to be available outside the exchange from all of the traditional sources.  Insurance Brokers and Agents continue to provide the widest range of products and services outside of the Exchange-Marketplace.

What is the purpose of the exchange-marketplace?

The “primary purpose of an exchange shall be securing health care coverage for individuals who do not have coverage” [Maryland senate bill 107].  The Exchange-Marketplace has been created to supplement the traditional marketplace, not replace it.

Why would I go to the exchange-marketplace?

The Exchange-Marketplace is where individuals will go who are seeking an *Advanced Premium Tax Credit (aka premium subsidy).  Coverage is limited to specific “metal level” plans.

Can I use my current broker inside the exchange-marketplace?

Yes, if he or she obtained certification.  Many brokers attended required certification and training in order to assist their clients with coverage inside the Exchange-Marketplace.  To select us as your representative, use the following information.  Garry L. Wilson, Consumer Assistance Reference ID: 9000061377

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