Understanding the Health Insurance Marketplace

What is the Health Insurance Marketplace? The Marketplace is a one-stop platform to find, compare, and purchase private health insurance that fits your needs and budget. You may be eligible for tax credits that lower your monthly premiums. Open enrollment runs from November 1st to January 15th, with coverage starting as early as January 1st of the following year.

Can City Employees Save Money on Marketplace Premiums? No. Since the City offers healthcare coverage that meets Healthcare Reform standards, employees don't qualify for lower monthly premiums on the Marketplace.

How Does Employer Coverage Affect Marketplace Eligibility?

If your employer's health plan meets certain standards, you won't be eligible for Marketplace tax credits. However, you might qualify if:

  • Your employer doesn't offer coverage
  • The offered coverage doesn't meet minimum standards
  • The cost of your employer's plan (for you alone) exceeds 9.56% of your annual household income

Note: Choosing a Marketplace plan over your employer's coverage may result in:

  • Loss of employer contributions
  • Loss of tax benefits associated with employer-sponsored health plans

Where Can I Get More Information?

  • For City of New Orleans coverage: Check your summary plan description or contact Benefits Administration at (504) 658-8615
  • For Marketplace options: Visit HealthCare.gov to evaluate coverage options, check eligibility, and apply online
  • Remember: Marketplace payments are made on an after-tax basis, unlike many employer-sponsored plans which offer pre-tax benefits.