What does off the exchange and on the exchange mean?
Basically when you’re buying on the exchange in Utah or sometimes referred to as obama care or even Utah health exchange you’re getting subsidy from the federal government because your income falls in a certain range.
For example if you’re family is making $50,000 a year and you have a family of 4, you may qualify for $400 or 500 in subsidy per month depending on age, income or agi adjusted gross.
To get an exact figure on what your subsidy credits will be just visit our informational site at Utahhealth.com or talk with an agent at ziphound.com
But lets say you make $85,000 for the family and you have 3 family members at this point your family would make to much money and you would not qualify for any subsidy. You would be considered off the exchange meaning you would be buying your health insurance plan in Utah direct with one of the companies such as select health, humana one, or maybe Regence blue cross blue shield.
The plans and coverage will be very similar, probably the biggest difference is that with plans off the exchange you will see a wider choice of doctors and networks. All of these plans are guaranteed issue and will have no pre-existing conditions attached to them.
One more tip to remember is when you’re estimating your income each year with the health care insurance marketplace please make sure if your income goes up or down to make certain you update your income levels with healthcare.gov
To estimate what your subsidy is or to buy a plan off the health insurance exchange in Utah enter your zipcode below.