With the safety of our community and staff in mind, we have decided to maintain limited office hours during the current COVID-19 crisis. Our agents will be available during normal business hours and staff will rotate being in the office during the hours of 10am-3pm. Stay Safe!

Does the Marketplace Affect Me if I’m Covered by Medicare?

Do you have questions about the Marketplace? You’re not alone. Since the Health Insurance Marketplace launched as part of the Affordable Care Act, in October of last year, residents across the United States have had countless questions about the plans.

The Affordable Care Act was put in place by the United States Government to help provide quality insurance coverage at lower prices and the marketplace, specifically, was designed to give all Americans access to affordable health insurance options.

The main purpose of the law is to encourage those who are not covered by insurance to acquire coverage, and in fact, the law now requires it. Whether residents of the U.S. gain coverage through private companies or the Marketplace, all adults must be covered. But, this law has left many wondering, “what if I am already covered?” and, in particular, “what if I am already covered by Medicare?”

Because Medicare is a federal health insurance program, it is easy to see why that could cause confusion among those covered by Medicare. Many may be wondering, “Will my Medicare still be recognized by the government?” or “Do I need to switch to a Marketplace plan if I am covered by Medicare?” but the short and sweet answer is: The Marketplace does not affect you if you are already covered by Medicare. Let’s look at a few facts that may help answer questions you may have.

Facts about Medicare Under the Affordable Care Act

  • Though the government has launched the Marketplace, they have not done away with Medicare. Medicare is still recognized as insurance coverage, and if you are enrolled in Medicare, you will meet the insurance-coverage mandate.
  • You will not be penalized if you stay on Medicare.
  • If you are already covered by Medicare, companies who sell Marketplace plans are not able, by law, to sell you a Marketplace plan. It is best to stay with Medicare.
  • If you do not qualify for Medicare, but are over 65 years old, you are eligible to sign up for a Marketplace plan.
  • If you are in your early 60s and plan to sign up for Medicare at 65, but are uninsured now, you may sign up for a Marketplace plan until you are eligible. Once you are three months away from your 65th birthday, simply let your Marketplace provider know you will be dropping your plan, and begin the application process for Medicare.

Hopefully that helps cover a few of the questions you may have about the Affordable Care Act and Medicare. Remember, at the Wooten Agency it is our priority to keep our customers informed and up to date with industry news. Should you have any further questions about Obamacare and your Medicare plan, feel free to call on the experts at the Wooten Agency today to learn more! You may also visit our Medicare FAQs page for help on more topics.



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Client Testimonials

I Am Covered by Medicare, Does Obamacare Affect Me? | Wooten Agency

  • "This is a family-owned business who cares about their potential clients. I was looking for help with health insurance and even though it turns out I don't need new health insurance at this time, I feel compelled to write a review because of how thorough Brendan was. He was very knowledgeable and easy-going. He didn't seem pushy at all and listened to everything I had to say. He made sure he was getting all the information correct. I would recommend this agency for any insurance needs." - Doug C.
  • "I sought help from Wooten Agency; Ed, along with Nancy, took the bull by the horns and sorted things out for us very quickly. Shortly thereafter Ginny took over. She is definitely most qualified as a plan selector for Medicare plans and issues related to Medicare. My appreciation to Crystal for the gracious way she always responds to telephone calls and makes every effort to ensure one is not forgotten. And Dana....the one contact we had was enough to find out you are similarly inclined to help a client." - Frank V.
  • "You [Aaron] have been so helpful, and you have all taken a personal interest in my individual and specific questions in order to make the best insurance choices for my needs. Thank you all! I look forward to working together in the future months and years." - Susan H.
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