Healthcare Exchanges/Marketplaces Frequently Asked Questions
What health Insurance options are available to college students?
College students may be eligible for the following health insurance options:
- Coverage as a dependent on Parents’ health insurance plan to the age of 26
- Coverage through Medicaid based on expanded eligibility requirements in some States
- Coverage through the Exchange/Marketplace; with premium tax credit, or subsidy, if income requirements’ are met
- Catastrophic Plan offered through the Exchange/Marketplace
- School Sponsored Student Insurance Plan
- Coverage through an individual Health Plan offered outside of the Exchange/Marketplace
When is open enrollment?
- Open enrollment for plans offered through the Exchange/Marketplace starts October 1, 2013 with coverage going into effect as early as January 1, 2014.
Can a student who attends College outside of their State of Residency apply for an Exchange/Marketplace plan in the State in which their College or University is located?
- No, individuals interested in purchasing coverage through the Exchange/Marketplace may only apply for plans available in the State where he/she is a resident. Each State has its own residency definition and requirements which must be met for a person to legally be considered a resident.
Are International Students eligible to purchase a plan through the exchange/marketplace?
- International students who are legally in the United States are eligible to purchase a plan through the Exchange/marketplace, but are not eligible for premium tax credit.
What kinds of health insurance options are available through the Exchanges/Marketplaces?
- There is a menu of plan designs that are based on actuarial value levels of benefits offered through the Exchange/Marketplace. These plans are categorized as: Bronze (60%), Silver (70%), Gold (80%) and platinum (90%), and are often structured through limited provider networks.
Once enrolled in an Exchange/Marketplace plan, one must continue enrollment in the same plan throughout the policy year unless a qualifying life event occurs, such as moving to a new state, certain changes in income, or changes in family size (i.e., marriage, divorce, or birth of a child).
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