Virginia SCC offers health insurance shopping guidance
Open enrollment through Virginia's Insurance Marketplace begins Nov. 1. The State Corporation Commission's Bureau of Insurance urges shoppers to compare not only monthly premiums but also deductibles, copayments, coinsurance, covered prescriptions, provider networks and restrictions on care.
“Not all health plans are created alike. Some are not insurance or may not come with the same benefits and protections as ACA-compliant plans,” said Virginia Insurance Commissioner Scott A. White.
Marketplace plans must cover a broad range of services and provide certain consumer protections, while health care sharing ministries, short-term plans and some limited-benefit arrangements may exclude pre-existing conditions, cap payments or offer narrower benefits.
The bureau also warned consumers about products marketed as ‘limited partner’ or ‘working owner’ plans that claim exemptions from state regulation. People who lose certain non-Marketplace coverage in the middle of the year may not qualify for a special Marketplace enrollment period. The agency encourages consumers to understand the terms before enrolling and seek help from the Bureau of Insurance when questions arise.
For more information, visit the Virginia Bureau of Insurance website or call toll-free at 877-310-6560. Use the Health Coverage Plan Comparison Tool to compare plans.
