The Health Insurance Marketplace is a United-States-government-run platform where individuals and small business owners can shop for and purchase health insurance coverage. The Marketplace was created as part of the Affordable Care Act (ACA) and is intended to help make health insurance more affordable and accessible for Americans, including freelancers.
For freelancers, the Marketplace can be a valuable resource as it provides access to a variety of health insurance plans from multiple insurers. Freelancers can compare plans and prices, and may be eligible for premium tax credits or cost-sharing reductions that can help reduce the cost of their health insurance coverage.
To use the Marketplace, freelancers must first enroll during the annual open enrollment period, which typically runs from November to December. However, individuals who experience a qualifying life event, such as a change in income or the loss of employer-sponsored health insurance, may be eligible to enroll outside of the open enrollment period.
By using the Marketplace to shop for and purchase health insurance coverage, freelancers can ensure that they have access to affordable and comprehensive health care coverage, which can help protect their health and financial well-being. Additionally, many health insurance plans purchased through the Marketplace offer coverage for essential health benefits, such as preventative care, hospitalization, and prescription drugs, which can be especially important for freelancers who may not have access to employer-sponsored coverage.