If you’re retired and need health coverage, you can use the Marketplace to buy an insurance plan. If you have retiree health coverage, you have different choices to consider.
Are you a retiree under age 65 without health coverage?
If you retire before you’re 65 and lose your job-based health plan, you can use the Marketplace, like Inshura.com, to find an affordable healthcare plan. Losing health coverage qualifies you for a Special Enrollment Period. This means you can enroll in a health plan even if it’s outside the annual Open Enrollment Period.
When you fill out a Marketplace application, you’ll find out if you qualify for a private plan with premium tax credits and lower out-of-pocket costs. This will depend on your income and household size. You’ll also find out if you qualify for free or low-cost coverage through the Medicaid program in your state.
Are you 65+ and retired with retiree health benefits?
If you have retiree coverage and want to buy a Marketplace plan instead, you can. However, keep in mind:
You can’t get premium tax credits and other savings based on your income. This is true only if you’re actually enrolled in retiree coverage. If you’re eligible for but not enrolled in retiree coverage, you may qualify for premium tax credits and lower out-of-pocket costs based on your household size and income.
If you voluntarily drop your retiree coverage, you won’t qualify for a Special Enrollment Period to enroll in a new Marketplace plan. You won’t be able to enroll in health coverage through the Marketplace until the next Open Enrollment period.
Coverage for retirees without Medicare
What if I turn 65 in the middle of the year? Can I get Marketplace coverage to carry me over until I’m eligible for Medicare?
Yes. You can get a Marketplace plan to cover you before your Medicare begins. You can then cancel the Marketplace plan once your Medicare coverage starts.
What if I’m 65 or older, but not eligible for Medicare?
You may be able to buy insurance in the Marketplace and get lower costs on monthly premiums and out-of-pocket costs based in your household size and income.
What if I retire from my job and am self-employed?
If you don’t have retiree insurance or Medicare, you have the same insurance choices and responsibilities as anyone else who’s self-employed.
Can I drop COBRA and get Marketplace coverage instead. Will I qualify for lower costs based on my income?
It depends on your situation. For example:
If your COBRA coverage runs out outside Open Enrollment, you qualify for a Special Enrollment Period. This means you can enroll in a Marketplace plan outside the annual Open Enrollment Period.
But you can’t choose to drop your COBRA coverage outside Open Enrollment and enroll in a Marketplace plan instead. The Special Enrollment Period applies only if your COBRA coverage runs out.
During the annual Open Enrollment Period, you can drop your COBRA coverage even if it’s not running out and replace it with a Marketplace plan.
About Inshura
Inshura is a FREE online ACA insurance tool, perfect for agents and agencies! Agents can boost their ACA and other enrollments using this easy-to-use solution for quoting, enrolling, automating renewals, and managing clients!
And inshura is CMS EDE PHASE III certified, so it automatically exchanges data directly from the Marketplace.
Inshura is fully integrated with the ACA marketplace and private carriers.
Building excitement about industry-changing technology is the key to growth. As a professional communicator, Paul turns complex, technical projects into compelling customer stories that build excitement and grow sales. And Paul’s Marketing and PR campaigns convince people to re-think & improve their business.
From Omnichannel outreach to Technical SEO, TV Advertising to Social Media, Paul connects Inshura’s message to thousands of people selectively targeted to bring about the best ROI, ensuring 3x to 5x company annual growth.
With an incredible depth of knowledge about an insurance agency’s day-to-day operations, the experience Linette gained while managing her agency is vital to our understanding of an agent’s daily needs.
Bringing more than a decade of experience to Inshura, Linette was recognized as one of the highest Medicare-producing brokerages, with special honors for Compliance and Customer Service before joining our team.
Linette’s real-world insights and ability to connect with customers are invaluable to both our development and marketing teams.
With more than twenty-five years of experience in commercial litigation, commercial transactions, and regulatory compliance, Susan, our Chief Legal Officer, oversees Inshura’s legal and compliance responsibilities.
Susan has represented many businesses in diverse but relevant fields including information technology, healthcare, insurance, and professional services. The breadth and depth of her legal knowledge and experience enables her to help Inshura stay on top in the fast-paced and growing online insurance market.
Before joining Inshura, Matthew built a very successful insurance business. The experience and insights he gained along the way translate to an ability to communicate with other insurance professionals and bring them into the Inshura family.
Under Matthew’s stewardship, Inshura has grown year-over-year, with inshura experiencing a 5x growth in health insurance sales.
Turning ideas into products is what Ashwini does best. We turn to her to take a vision and mold those ideas into viable products.
With a unique ability to work closely with multiple departments, like engineering, sales, marketing, and customer service departments, Ashwini deftly consolidates input from every department and then guides the development of successful, feature-rich, and easy-to-use solutions.
Passionate about product quality, with a customer-focused perspective, Manal leads the departmental teams to design the very best solutions.
His experience with the medical and technology industries translates into an ability to interpret and define new processes and automation strategies that bring Inshura its’ unique and efficient functionality.
With a Computer Engineering degree and later an MBA from the Wharton School of Business, Manal’s experience and leadership is proven by our rapid growth.
With a keen insight into technology, development, and business operations, Ravi is growing Inshura into a next-generation company focused on technology and the customer.
As a strategic innovator, Ravi was central to the success of multiple projects at Verisign, Portal/Oracle, and ACT TV. With decades of leadership experience in the high-tech, fintech, and logistics industries, he is expanding the scope of inshura to include AI, ML, and other new technologies.
Starting with just two people, Girish took just a few short years to build a $135 million technology company.
Mr. Panicker received his degree in Computer Science, then earned a Master of Science in Computer Science from Drexel University in Philadelphia. In 2003, Girish transformed his software skills and passion for building custom software into his own business.
Inshura is his latest innovation. An insurance quoting and enrollment platform that solves daily challenges experienced by thousands of insurance agents.
