The State Exchanges
The Affordable Care Act (ACA) calls for the creation of state-based competitive marketplaces, known as Affordable Health Insurance Exchanges (Exchanges), for individuals and small businesses to purchase private health insurance. According to the Department of Health and Human Services (HHS), the Exchanges will allow for direct comparisons of private health insurance options based on price, quality and other factors and will coordinate eligibility for premium tax credits and other affordability programs.
New Hampshire residents shopping for health insurance in the marketplace, or exchange, will have at least five companies to choose from for coverage in 2015, compared to only one company this year.
Anthem was the sole company to offer health insurance packages in the marketplace when it opened in October 2013 for coverage starting in January 2014. Since then, Minuteman Health and Harvard-Pilgrim Health Care, both based in Massachusetts, have indicated that they will be offering products for coverage starting in January 2015.
The NH State Insurance Department announced on June 2, 2014 that two other companies plan to offer products to New Hampshire consumers — Maine Community Health Options and Assurant Health. Maine, plans to introduce its products in four New Hampshire counties at first — Rockingham, Strafford, Carroll and Coos — with plans to expand later in the year.
We are ready to help you review your options for your individual health care, either through the marketplace or outside of the marketplace.