Q:

What are some benefits of the Health Insurance Marketplace?

A:

Quick Answer

A key benefit of obtaining insurance through the Health Insurance Marketplace is that there is a set of essential health benefits every single plan includes, explains HealthCare.gov. These include ambulatory patient services, prescription medications, hospital care, emergency services and laboratory services. All plans must also cover birth control, pregnancy care, breastfeeding-related services and newborn care. Additionally, all Marketplace plans offer some degree of preventative and wellness services, pediatric care, chronic disease management, mental health care and rehabilitative services.

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Full Answer

Every plan in the Health Insurance Marketplace provides coverage of pre-existing conditions, such as diabetes, cancer, asthma and back pain, notes HealthCare.gov. Prior to the implementation of the Affordable Care Act, insurers denied many individuals coverage because they already had certain conditions at the time of application.

An exception is that grandfathered individual health plans are not under obligation to cover pre-existing conditions, states HealthCare.gov. This rule applies only to insurance plans that individual citizens obtain on their own and not through employers. People who have grandfathered plans can obtain coverage of any pre-existing conditions by switching over to a Marketplace plan. Most individuals must apply for their new plan during the Marketplace's open enrollment period for that year, but special enrollment periods are available for those who must wait until grandfathered plan's coverage year ends before they can cancel it.

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