The Texas Health Insurance Marketplace | Shepard Walton King Insurance Group

The Texas Health Insurance Marketplace Features More Choices, Lower Costs Than National Average

Updated on Oct 5th, 2018

The Patient Protection and Affordable Care Act (PPACA or ACA) is a federal law that aims to provide more access to Americans in securing health care coverage. The law requires purchasing an individual health plan, otherwise, a financial penalty will be issued. This is known as the individual mandate. This doesn’t apply to those who are already covered under:

  • Their employer
  • Medicare
  • Medicaid
  • CHIP
  • Veterans Affairs
  • Indian Health Service
  • TRICARE

Although the ACA went into effect in 2014, there may be a chance that you haven’t secured your policy yet. Know that there’s still time to do so. Our insurance agency in McAllen wants to help you secure a policy through the Texas Health Insurance Marketplace.

What is the Texas Health Insurance Marketplace?

The Texas Health Insurance Marketplace | Shepard Walton King Insurance Group

The Texas Health Insurance Marketplace is a web portal that allows consumers to find which policies they qualify for. Through simple information, the marketplace will help narrow which policies are best for you. This includes:

  • Age
  • Gender
  • Race
  • Income

From there, platinum, gold, silver and bronze plans from multiple carriers will appear. You can view the list according to cost, helping you decide which is most affordable. Insurance companies participating in the marketplace are offered depending on the state. All plans, however, must comply with a certain level of federally mandated coverage. If you have trouble accessing these policies, get in touch with our insurance agency in McAllen.

Platinum, Gold, Silver and Bronze Plans

The Texas Health Insurance Marketplace | Shepard Walton King Insurance Group

The four types of coverage plans were set up by the federal government to make it easier to compare them by different companies. They follow this formula:

  • Bronze – Low premiums but high out-of-pocket costs
  • Silver – Moderate premiums and out-of-pocket costs
  • Gold – High premiums but lower out-of-pocket costs
  • Platinum – Highest premiums but lowest out-of-pocket costs

Out-of-pocket costs include:

  • Deductibles
  • Copays
  • Coinsurance

Search with Our Help

The Texas Health Insurance Marketplace | Shepard Walton King Insurance Group

If you’re in need of individual health coverage, know that you don’t have to purchase it from the Texas Health Insurance Marketplace. You can do so with the help of our insurance agency in McAllen. Keep in mind that if you’re eligible for a federal subsidy, then you’ll need to find a policy through the marketplace in order to receive that credit. Ask us which subsidies qualify or for help finding a policy today.

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