Key Takeaways

  • The health insurance Marketplace offers insurance to people who are uninsured or underinsured.

  • If you have Medicare, you will likely not have any need to use the Marketplace.

  • In limited situations, people who have to pay a premium for Medicare Part A might consider a Marketplace plan based on costs and coverage needs.

Health Insurance Marketplaces were created by the Affordable Care Act (ACA, sometimes known as Obamacare or Health Care Reform) where individuals and families can compare and purchase health insurance plans. Small business owners can also use the Marketplace to purchase health insurance plans for their employees called Small Business Health Options Program (SHOP) plans.

Marketplaces provide insurance options to individuals who are uninsured or underinsured (meaning their current coverage is insufficient). In most cases, you do not need to use the Marketplace if you have Medicare or Medicaid. Some states may require that you be screened for other types of insurance before enrolling in a Marketplace plan.

These Frequently Asked Questions were developed for us by the Medicare Rights Center. The FAQ walks through basic information about the Health Insurance Marketplaces, what is sold in the Marketplace, and what people who have or are about to enroll in Medicare need to know about transitioning from Marketplace coverage to Medicare.