The New Health Insurance Marketplaces
Individual consumers and small business can compare and buy health insurance via the health insurance marketplaces. Every state has either a state-run marketplace or is using the federal Health Insurance Marketplace.
Health Net is participating in Covered California, Cover Oregon and, in Arizona, via the federal Health Insurance Marketplace. We have the same plans – and many others – available to purchase through brokers and directly from us.
Marketplace health plans
Through the marketplaces, consumers and small businesses have a choice of health plans from different insurance companies. The plans come in four levels: bronze, silver, gold, and platinum.
Health plans in each level offer the same benefits. So a silver plan from Company A has the same benefits as the one from Company B. This makes it easy to compare.
The small business marketplace is called the Small Business Health Options Program (SHOP). It’s available to businesses that have fewer than 50 full-time equivalent employees. The SHOP will expand to businesses with 100 or fewer full-time equivalent employees in 2016.
Individuals and families may apply for coverage during open enrollment. For 2015, open enrollment is currently scheduled to begin November 15, 2014 and end on February 15, 2015.
People can enroll outside of open enrollment if they qualify for a special enrollment period. Events that qualify include loss of employer-sponsored coverage, change in marital status, birth/adoption of a child and others.
Eligible small business employers can enroll via SHOP either according to their policy's renewal date or whenever they choose. Upon enrollment, the group coverage and premiums are locked in for 12 months.