Does Massachusetts have a HealthCare marketplace?
Health Connector is your state’s Marketplace. Visit Massachusetts’ website.
What is insurance exchange Hix?
Affordable Care Act, P.L. 111-148, as amended A health insurance exchange (HIX) is a structured virtual marketplace where individuals and small businesses will be able to compare, select and purchase health insurance from multiple coverage options.
Does Massachusetts use the federal or a state marketplace for health insurance purchases?
In Massachusetts, the state Marketplace is known as the Massachusetts Health Connector. While you may or may not qualify for health insurance through the Health Connector, it may still be helpful for you to read and understand the information included here.
What is the difference between on and off exchange plans?
If you buy your health insurance through the health insurance exchange in your state (on your own, or with the help of a broker or enrollment counselor), it is considered an “on-exchange” plan. If you buy it directly from the insurance company (on your own, or with the help of a broker), it’s off-exchange.
How does a consumer driven health plan work?
A CDHP is a high-deductible plan where a portion of the health care services are paid for with pre-tax dollars. High-deductible plans have higher annual deductibles and out-of-pocket maximums than traditional health plans. The tradeoff: The insured pays lower premiums each month.
Do all states have health insurance exchanges?
Under the Affordable Care Act, each state must have a health insurance exchange. The exchange, also known as the marketplace, is a platform that residents can use to shop for health insurance.
Who is eligible for Massachusetts Health Connector?
To qualify for ConnectorCare: You must live in Massachusetts. You must be a U.S. citizen or a “lawfully present” non-citizen. Your income must be 3 times the federal poverty level for your family size or lower.
What are the disadvantages of consumer driven healthcare plans?
Con: Higher Co-Pay While it’s nice to pay less each month, the co-pays can add up if the member ends up going to the doctor more often than they’d like. Plans like this one may not be the best for people who expect to go to the doctor regularly or know that they want to move forward with a pricey procedure.
What are the three types of consumer-driven health plans?
The four types of consumer-driven health plans are health savings accounts (HSAs), flexible spending accounts or arrangements (FSAs), health reimbursement arrangements or accounts (HRAs), and medical savings accounts (MSAs). Each of these types brings tax benefits along with them, the IRS says.
What is the health insurance exchange like in Massachusetts?
The exchange in Massachusetts predates the ACA by several years; health care reform that took effect in Massachusetts in 2006 was widely considered a blueprint for the ACA. Massachusetts has a very robust exchange, with more participating carriers than most states.
How much has the state paid in medical claims for MassHealth?
In addition, the state has paid $259 million in medical claims for people who were temporarily enrolled in MassHealth due to the exchange’s inability to accurately determine eligibility for financial assistance in 2014. Health Connector performance was greatly improved in 2015.
What is the Massachusetts Health Connector health insurance exchange?
Massachusetts runs its own exchange (marketplace), Massachusetts Health Connector. It’s an active purchaser exchange, which means the exchange determines which plans are offered for sale. (The exchange prefers to limit the number of available plans; details below.)
Who is an individual health insurance broker in Massachusetts?
Serves residents and other consumers who receive health coverage from a Massachusetts carrier, insurer, or HMO. Louise Norris is an individual health insurance broker who has been writing about health insurance and health reform since 2006.