Hawaii’s Health Insurance Marketplace
Uninsured residents of Hawaii may be able to remedy that problem by enrolling in the marketplace. This cost-effective overhaul of the individual and family insurance market gives subsidies to numerous residents so they can buy and keep their health plans.
The Hawaii Health Insurance Exchange is run by the state and provides a great solution for many people who have been unable to obtain coverage previously.
- Hawaii Medical Service Association
- Kaiser Foundation Health Plan
What is the Exchange?
If you don’t have health insurance and you qualify for tax credits, you can apply for coverage and walk away paying a fraction of the cost.
Depending on your income, that fraction could be larger or smaller, but you still get a discount. It’s truly beneficial, especially if you have a lower income level.
Subsidies reduce your monthly premium (the cost of staying covered), and cost-sharing (the price of medical services approved by your plan) if you earn on the lower end of the subsidy-eligible pool.
Each of the new rules of the ACA apply to the policies sold on the exchange. The highlights for consumers are reduced premiums and even lower cost sharing. Many individuals qualify for lowered deductibles, copays and coinsurance to ensure they can afford their plan.
Why do I need coverage?
Medical coverage is a key focal point of the Affordable Care Act as it’s been historically expensive and difficult for many Americans to obtain. This law has reforms the healthcare system so that people can afford to get treated properly for any illness, or keep insurance on hand for emergencies and unexpected needs.
The ACA increases access to coverage, and makes it available to almost everyone. In Hawaii, most individuals without coverage should be able to get insured, and you won’t get turned down for having health problems or for most other reasons, though unfortunately citizenship is a factor if you apply on the marketplace. Now that healthcare is easier to access, it’s also a requirement.
If you qualify for a subsidy to lower your monthly premiums, you can stay safe and smart for a lower price.
How do I know if the exchange is right for me?
If your employer doesn’t offer health benefits, you don’t qualify for Medicaid or Medicare, and you can’t afford a plan without a subsidy, the exchange is a great choice. If you’re eligible for a subsidy, you can receive substantial discounts that make it much easier to afford insurance from a reliable insurer.
Another reason the exchange is worthwhile is the inclusion of essential health benefits. According to the health law, carriers on the exchange must cover office visits, preventive care, and ten other categories of common health needs.
We can help you get covered, whether you need to maintain or restore your health. It may be cheaper than you think to get insured, and the alternative is a penalty tax.
To enroll in the Hawaii exchange, visit the Hawaii Health Connector website, or contact each carrier individually as there have been technical issues.