CMS is starting to issue more and more guidance on the Federal Facilitated Exchange that will operate.
The enrollment process could look like this:
1. Consumer Submits application to the exchange:
2. The Exchange/Marketplace verifies and determines the eligibility:
The step will determine the eligibility for:
Enrollment in a qualified health plan (QHP)
Tax credits and cost Sharing reductions
Medicaid or CHIP
3. Eligible Consumer now enrolls In a QHP or Medicaid/CHIP
There will be online comparison tools to view different health plan designs.
Premium tax credits and cost-Sharing reductions are sent to the Health Insurance Carrier
Enrollment into the QHP or Medicaid/CHIP
CMS is making the enrollment process sound easy. There will be a lot of Hoosier that are going to be eligible for the tax credits which will reduce their monthly premiums. Some Hoosiers will even qualify for cost sharing reductions if income is under 250% of Federal Poverty Level. This means that medical expenses could be reduced by subsidies. Though the exchange you could have a very reduced premium along with a very low out of pocket.