CHARLOTTE, N.C. (WBTV) – Open enrollment for health insurance on the public marketplace begins Friday, Nov. 1.
Americans will have until Dec. 15 to enroll for coverage in 2020.
Sandy Newton is an insurance broker in Rock Hill. He’s been certified by the Marketplace since it became available in 2014. He helps guide people through enrolling in coverage on the public exchange.
Newton says people should go to the Marketplace if they do not get health insurance through their workplace. He says people who will benefit most are people who qualify for subsidies.
Subsidies help drive the cost of your health insurance down. It’s determined by a person’s income and the number of people in their household. If their income falls within 400 percent of the poverty line, they will qualify for a subsidy.
“Right around 50 percent of people in South Carolina qualify for a subsidy right now,” Insurance Broker Jake Newton said.
The Newtons say they get many calls from people who don’t like the insurance offered to them at their workplace, so they want to know if they can get insurance on the public exchange instead. They say your work plan will likely be cheaper than the public exchange.
“If your insurance at the workplace is deemed affordable by the government and you go to the marketplace, you are not going to get a subsidy. Regardless of what your income is,” Newton said.