Who Is the Marketplace for?
Vermont Health Connect is the state's Marketplace for health insurance, where you can shop for and buy insurance in person, online, or by phone. In Vermont, the state runs the Marketplace, which is mainly for people who:
- Don’t have insurance
- Aren’t insured by their employer
- Aren’t included in their spouse’s employer insurance
- Have pre-existing conditions and may have had trouble getting insurance before
- Have private insurance but want something less expensive
- Own a small business
The Affordable Care Act requires that most Americans have health insurance starting in 2014. Generally, you don't need to buy insurance through the Marketplace if you are currently covered by Medicaid, Medicare, TRICARE, or an employer-sponsored plan.
When You Can Enroll: The next open enrollment period will be from Nov. 15, 2014, to Feb. 15, 2015.
If you have a life-changing event -- such as the birth of a child, losing your job, or moving to a new state -- you don't have to wait for the next enrollment period. You can sign up or change coverage within 60 days of the event.
Plans and Costs
Companies can offer four levels of plans: bronze, silver, gold, and platinum. These “metal level” plans all cover the same benefits in your state. What differs is how much they pay on average toward the costs of the services the plan covers. Here’s how it works:
- Bronze Plan: You pay 40% and the plan pays 60%.
- Silver Plan: You pay 30% and the plan pays 70%.
- Gold Plan: You pay 20% and the plan pays 80%.
- Platinum Plan: You pay 10% and the plan pays 90%.
Low cost – or catastrophic – plans are available, especially for people who are under 30 and are healthy. These plans cost less up front, but they don’t give you as much coverage. They generally require you to pay more out-of-pocket costs.
Costs: Rates vary by region, plan level and age. Final rates for silver plans are from $395 to $410 per month for a single person. Family plans range from $1,111 to $1,151 per month.
Who Is Selling Insurance in the Vermont Marketplace? Blue Cross Blue Shield of Vermont and MVP Health Care.