The Vermont health insurance landscape includes many avenues through which individuals and families may buy health care insurance plans. Residents without access to employer-sponsored coverage can shop for health care plans in the private marketplace and through the federal marketplace exchange. Those who are eligible may apply for public health plans such as Medicaid and CHIP.
Vermont and the Affordable Care Act
When the Affordable Care Act took effect and required most Americans to buy health insurance coverage, Vermont elected to participate in the federally facilitated marketplace. When residents enroll in ACA-compliant health plans sold through the health insurance exchange, they can apply for income-based financial assistance that helps lower their monthly health insurance premiums and out-of-pocket expenses for healthcare.
Only marketplace plans are eligible for income-based premium tax credits and cost-sharing subsidies. Individuals and families can find both marketplace, on-exchange plans and private, off-exchange plans at HealthCare.org. For those who qualify for financial assistance, HealthCare.org will connect them to the right exchange to complete their enrollment.
In Vermont the Small Business Health Options Program (SHOP) provides a way for employers with 50 or fewer full-time employees to offer healthcare benefits that meet federal health insurance standards.
Medicaid expansion in Vermont
Vermont is one of many states to have expanded Medicaid to single, low-income adults since Obamacare took effect. Vermont residents that want to apply for Medicaid must meet certain eligibility criteria set by the state.
Vermont Children’s Health Insurance Program provides low-cost health insurance for eligible children. Information about Vermont CHIP is available online.
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