A new State Partnership Marketplace will allow Illinois to choose health insurance carriers and mold the marketplace for local needs and market conditions.
The state and federal partnership will help provide healthcare to hundreds of thousands of Illinois residents by the end of the program's first year. Open enrollment in the marketplace is expected to begin in October.
Consumers will be able to access the marketplace through a website that allows users to compare policies and premiums and also purchase comprehensive health coverage.
Individuals and families who have income between 133 percent and 400 percent of the federal poverty level will get subsidies on a sliding scale if coverage is purchased through the marketplace. An estimated 500,000 people will get coverage through the site and up to one million are expected to be covered by 2016.
The program is part of the Affordable Care Act and provides the same types of insurance as members of Congress and ensures that consumers will not be denied coverage due to a pre-existing condition. Consumers may also be eligible for tax credits to help pay for their health insurance.
More information on the marketplace can be found www.healthcare.gov/exchanges.
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