Health Insurance Marketplace

Health Insurance Marketplace

The new Health Insurance Marketplace is a key component of the Patient Protection and Affordable Care Act (PPACA), commonly called the Affordable Care Act (ACA) or Obamacare. This Act allows citizens to find the healthcare plan that best meets their needs and budget.

What You Need to Know About the Healthcare Law

The PPACA* was passed in to law in March 2010 and requires U.S. citizens and legal residents to have qualifying health coverage in 2014, or pay a tax penalty. 

How is this new healthcare law making a difference for the people of Oklahoma?
The new online Health Insurance Marketplace provides individuals and families who currently do not have insurance a new way to find health coverage that fits their needs and budgets. This means the 20 percent of Oklahomans (22.8 percent of Tulsans) who do not currently have health insurance have options.

If you have job-based health insurance you like, you can keep it. However, if your job-based plan is not affordable, that is, if the employee’s share of the annual premium for self-only coverage is greater than 9.5 percent of the annual household income, you may be eligible to purchase insurance through the exchanges.

Marketplace enrollment is now open with insurance coverage beginning January 1, 2014 for most people.

What will the benefits be?
Individual plans will be offered on a tiered format:
Platinum: 90% coverage
Gold: 80% coverage
Silver: 70% coverage
Bronze: 60% coverage

All of these plans will protect you against catastrophic losses by limiting the out-of-pocket maximum amount you must pay each year for deductibles, copayments and coinsurance for your healthcare and prescription drugs. All of the plans are required to cover a wide range of essential health benefits as defined by the PPACA, as well as covering a wide range of preventative healthcare services.

Oklahomans earning between 100 to 400 percent of the federal poverty level who qualify for subsidies on the marketplace exchange for individual coverage will have lower premiums and enhanced benefits.

What Saint Francis Offers

Since 1960, Saint  Francis Health System has been eastern Oklahoma's leading provider of healthcare services. We provide services for the tiniest premature newborns to senior care options and virtually all medical needs in between. It is this continuum of care - through all phases of life - that sets Saint Francis apart.

We are prepared for the new order of healthcare delivery with:
  • the largest physician network in the region;
  • the only children's hospital in the region, with talented pediatric specialists and subspecialists;
  • two community hospital to keep your care close to home;
  • a behavioral health center for mind/body/spirit care;
  • specialized care for cancer and heart patients;
  • award-winning care, year after year;
  • access to myChart system which provides secure access to your health information (coming in 2014); and
  • a new trauma center and patient tower opening in 2014 to meet growing healthcare demands.
Learn More
Now that you have a choice to make, it's more important than ever to be informed about your options. We understand that you still have questions, which is why we've established the new Saint Francis Insurance Exchange Information Center. To help you select the right healthcare provider, please call (918) 502-7070 to speak with one of our experts.

*Please note: This information is for planning purposes only and may change. Many regulatory interpretations have yet to be issued. 
Additonal Information