September 1, 2021

Consumers, businesses, and individuals can now use the Consumer Financial Protection Bureau’s Health Insurance Marketplace (HIPAA Marketplace) to compare health insurance policies from two major insurance companies.

The program, launched on July 10, allows consumers to compare policies and buy insurance at no extra cost to consumers.

The website has been plagued by a shortage of policies for some time, and some consumers have reported issues with their insurance companies and coverage.

The marketplace, which has been operated by the federal government since 2008, allows insurance companies to sell policies to individuals, small businesses, self-employed workers, retirees, and those with limited or no income.

To learn more about the health insurance marketplace, read: Why are health insurance companies offering lower rates? 

What’s the difference? 

Health insurance companies are able to offer a variety of health insurance plans, including single payer and private plans.

Single payer plans typically offer limited benefits, such as hospitalization, prescription drug coverage, and prescription drug benefits, while private plans often offer much more generous benefits.

Single-payer plans usually have a deductible, so people are able, when needed, to get more out of their health care costs.

But some insurance companies have raised prices to offset the cost of higher deductibles and co-pays.

As part of the Affordable Care Act, the government began to limit premium increases for consumers, with the new ACA limits on the annual premium increase.

The limits on annual premium increases will begin on January 1, 2019.

For more information on health insurance, read Why do consumers need to compare plans? 

How much does it cost to buy health insurance in the United States? 

Why should I buy insurance if it’s cheaper than paying out of pocket?

The Affordable Care Amendment, the ACA, and its regulations are a significant step forward for Americans, but it’s important to understand how insurance works. 

Why is it that people pay more for health insurance than they pay out of school tuition? 

The ACA requires insurers to cover certain costs for the elderly, children, and disabled. 

How many people are covered by the ACA? 

According to the Congressional Budget Office, as of September 30, 2020, there are more than 19 million people enrolled in health insurance through the individual marketplaces.

The number of people covered by each state’s health insurance exchange has been growing steadily.

In 2019, the number of Americans enrolled in an exchange plan was almost three times that of people who were uninsured. 

Do health insurance and Medicare pay equally? 


In 2017, the Department of Health and Human Services (HHS) announced that health insurance premiums would be subject to a 10% increase in 2020, and in 2021, the premium for the benchmark Silver plan would be $1,000 higher.

The same year, the HHS announced that Medicare would pay for all covered medical expenses, including prescription drugs and hospitalizations, for a single patient. 

What is the federal minimum wage? 

As of 2017, it was $7.25 per hour.

For the most part, the federal hourly minimum wage is set by the Congressional Black Caucus (CBC) of the House of Representatives. 

The federal minimum is $7 per hour, and the federal standard of living is $20,000 per year.

How many Americans do you know that are living below the federal poverty level? 

It is estimated that as many as 1.3 million Americans are living in poverty in the U.S. According to the Census Bureau, as many people as have been in poverty for five years or more are currently living in households that are not in the most affluent areas of the country.

This means that those who are living on less than $15,000 a year in income are more likely to be living in homes that are low in value and have not been built to meet the needs of the families that they are supporting. 

Are there any types of health care coverage that are unaffordable for low-income Americans? 


Under the ACA’s new protections for those with pre-existing conditions, some insurers are offering lower-priced plans with no pre-existing conditions.

For example, Humana, a national health insurance company, offers a plan that is $15 per month for one person and $50 per month if two or more people have pre-existent conditions. 

Does the ACA cover everyone? 

For people who need to purchase coverage, the Affordable Health Care Act (AHCA) will also cover many people who do not have health insurance. 

Will the ACA raise premiums? 

Currently, health insurance is expensive for many people.

According the Congressional Research Service, the average annual premium for a private plan for an individual and a family in 2017 was $1.8 million, or about $30,000 in adjusted gross income.

For a family of four with a combined income of $150,000,