Kentucky health insurance marketplace brings back individual plans

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State residents seeking plan options will new be able to use the state-based exchange.

The Kentucky health insurance exchange has returned to allow residents of the state to be able to purchase individual plans from the state-based marketplace.

Governor Andy Beshear returned the exchange to the control of the state itself.

The website is currently undergoing a review period meant to allow residents to better understand the coverage options and find the ones best suited to their needs. This way, they will have the opportunity to be ready for the open enrollment period. Open enrollment for next year’s Kentucky health insurance plans will begin on November 1 and will continue through until January 15, 2022. The plans purchased through the state-run marketplace will become effective at the start of the year.

Last year, Governor Beshear announced that he would pursue federal approval to reinstate the marketplace’s individual offerings. Earlier in October, he announced that the U.S. Centers for Medicare and Medicaid Services had given the state plans the necessary approval.

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The hope is that the Kentucky health insurance marketplace will make coverage more accessible.

“Making sure all Kentuckians have access to affordable health care coverage helps further strengthen our economy and our families by reducing the consequences of being uninsured,” said Governor Beshear in a prepared statement.

By switching to a state-based marketplace instead of using the federal exchange, there should be a savings for individuals of about $15 million, said the statement from the governor. The reason is that plans purchased through the federal exchange include a surcharge that is avoided by shopping through a state-based marketplace.

The Kynect marketplace will offer health plans throughout the state by way of CareSource and Anthem. Those coverage options will be sold to residents of 100 counties in the state. That said, select areas will also be able to purchase coverage through Passport Health Plan by Molina, WellCare of Kentucky, Aetna and United Healthcare.

Individuals will also be able to purchase a vision plan on top of their Kentucky health insurance policies and find out if they qualify for a premiums subsidy or for Medicaid. Veterans in the state will also be able to use the resources through the marketplace to obtain benefits, transportation, job training, food, or utility bill assistance.

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