Updated July 2026 · Reviewed by the CoverageCo team
The Health Insurance Marketplace is where individuals and families under 65 buy private health plans, created by the Affordable Care Act. Plans are sold by private insurance companies, not the government. Depending on your income and household size, you may qualify for savings that lower your monthly premium.
Key takeaways
- Marketplace plans are private insurance — the same carriers you already know.
- It's built for people without affordable coverage through work: self-employed, between jobs, gig workers, early retirees.
- Every plan must cover essential health benefits, and pre-existing conditions can't be denied or surcharged.
- At 65 you generally move to Medicare instead.
What the Marketplace actually is
The Health Insurance Marketplace was created by the Affordable Care Act (the ACA, sometimes called "Obamacare"). It's a place where you can shop for private health insurance from real insurance companies — the same carriers you already know.
Plans are sold by private insurers, not the government. An agency like CoverageCo helps you compare those plans and enroll. (CoverageCo is a private, licensed agency — we are not affiliated with or endorsed by any government agency.)
Who it's for
Marketplace plans are built for people who don't get affordable coverage another way — for example, if you're self-employed, between jobs, a gig worker, an early retiree under 65, or your employer's plan is too expensive.
If you're 65 or older you'll generally look at Medicare instead. Marketplace coverage is for under-65 individuals and families.
What every plan has to cover
By law, every Marketplace plan covers a core set of "essential health benefits." No plan can leave these out, and they can't deny you or charge you more for a pre-existing condition.
- Doctor visits and outpatient care
- Emergency services and hospital stays
- Prescription drugs
- Maternity, newborn, and pediatric care (including dental and vision for kids)
- Mental health and substance-use treatment
- Preventive care and chronic-disease management — many preventive services are covered at no extra cost
- Lab work and rehabilitation services
Where an agent fits in
You can shop on your own — but the plans differ in networks, drug coverage, and out-of-pocket costs in ways that aren't obvious. A licensed agent compares your real options, checks that your doctors and prescriptions are covered, and handles the paperwork. It costs you nothing extra.
Common questions
Is the Health Insurance Marketplace the same as Obamacare?
Yes. "Obamacare" is an informal name for the Affordable Care Act, which created the Marketplace. Plans sold there are private insurance from regular insurance companies.
Who can buy a Marketplace plan?
Generally people under 65 who don't have affordable coverage another way — self-employed people, gig workers, those between jobs, early retirees, or people whose employer plan is too expensive.
Does the government run the insurance plans?
No. Plans are sold and administered by private insurance companies. The Marketplace is the place you shop and determine eligibility for savings. CoverageCo is a private licensed agency and is not affiliated with any government agency.
Does it cost more to use an agent instead of enrolling myself?
No. Licensed agents are paid by the insurance carriers, so the plan price is the same whether you enroll on your own or with an agent's help.