7 ways to save in the Health Insurance Marketplace®

Published on July 25, 2013

1. You may be able to get lower costs on your monthly premiums when you enroll in a Marketplace health insurance plan.
2. You may qualify for lower out-of-pocket costs for
   copayments

   A fixed amount ($20, for example) you pay for a covered health care service after you've paid your deductible.

   ,
   coinsurance

   The percentage of costs of a covered health care service you pay (20%, for example) after you've paid your deductible.

   , and
   deductibles

   The amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself.

   .
3. You or your child may get free or low-cost coverage through Medicaid or the Children’s Health Insurance Program (CHIP).
4. You can’t be charged more for a pre-existing condition or because you are a woman.
5. You may be able to be covered on your parent’s insurance plan if you’re under 26.
6. You may be able to buy a lower-premium “catastrophic” coverage plan, if you’re under 30.
7. Small businesses may qualify for the expanded small business health care tax credit.

How will I know what I qualify for?

• Most people who apply will qualify for some kind of savings.
• Open enrollment starts October 1, 2013 and coverage starts as soon as January 1, 2014.
• Marketplace plans and prices will be available on October 1.