Security Health Plan approved for Health Insurance Marketplace
For Hub City Times
MARSHFIELD — Security Health Plan of Wisconsin Inc. has again been recognized as a Qualified Health Plan (QHP) by the Centers for Medicare and Medicaid Services, able to offer health insurance coverage in 2018 through the Health Insurance Marketplace.
“The Health Insurance Marketplace helps individuals and families access high-quality health care by making affordable health insurance coverage within reach,” said Marty Anderson, chief marketing officer at Security Health Plan. “With a wide choice of plan options that emphasize value and service, Security Health Plan consumers can choose the insurance coverage that best fits the health care needs of their family.”
Only insurance companies approved as QHPs are eligible to offer coverage through the Marketplace. Purchasing a plan through the Health Insurance Marketplace is the only way consumers can receive a tax credit to help reduce their monthly health insurance premium or a cost share reduction to help reduce their deductible and out-of-pocket costs.
Beginning Nov. 1, 2017, consumers will be able to compare plan options, calculate what tax subsidy they might qualify for, and enroll in a plan. The open enrollment period begins Nov. 1 and goes until Dec. 15. Those who are re-enrolling for 2018 will not have to make any changes during the open enrollment time period if they do not want to change plans. Their enrollment and tax credit information will be automatically updated with no break in coverage.
The Health Insurance Marketplace was launched in 2013 as part of the Affordable Care Act. This is the fifth year Security Health Plan has qualified as a QHP, having earned the certification each year.