What is a health insurance marketplace?

A health insurance marketplace is an online tool that allows consumers in California to research, compare, and purchase health insurance. The marketplace connects you with insurance companies that offer plans meeting certain benefit requirements. The marketplace also provides information about subsidies and cost-sharing that you may qualify for. Health insurance marketplaces allow you to compare different health insurance plans side by side. Marketplaces provide helpful information such as what type of coverage each plan offers, estimated out-of-pocket costs, and information about deductibles. You can also find out if you qualify for a low-cost or free plan or for a subsidy or tax credits that can help lower your monthly premium payments. In California, Covered California is the health insurance marketplace. It serves as the state’s only official health insurance marketplace and connects consumers to private health insurance plans as well as Medicaid and Medicare. Through Covered California, you have access to a variety of health plans and can choose the plan that best suits your needs. The health insurance marketplace is a great tool for California residents to use when researching and purchasing health insurance. It allows you to quickly and easily compare different plans and find out which ones may be the best fit for you and your family.

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