Idaho residents have many options when it comes to their health insurance. Blue Cross Idaho, Regence Blue Shield Idaho Molina, PacificSource and PacificSource are some of the carriers available. Idaho offers Medicaid, a federally-funded program for people with low incomes. Among its many benefits, Medicaid can provide free or low-cost coverage for those who qualify.
The Affordable Healthcare Act (ACA), has a major impact on the state's citizens. Your monthly premium may be reduced if you are eligible for a tax credit on premiums. A broker can also help you buy an off-market policy. It is important to fully understand the advantages of each option before making your final choice.
Idaho has three main metal classes or tiers of health insurance. Each class includes plans with various levels of features. The Silver class can be used for minor health issues, while the Gold category can be used for more serious conditions. A Silver plan will pay 70% of your medical expenses, while a plan with a Gold classification will pay 80 percent.
The bronze category is the most expensive, covering up to 60% of your medical costs. Your monthly premium will be more expensive than that of the gold class. In the same way, the silver classes will have lower copayments as well as deductibles.
Individual market policies cover the largest portion of Idaho's population. This is because the state's average monthly premium for an individual plan is $231. This is a great deal when compared to the price of a benchmark policy, but it's not an affordable option if you want a comprehensive policy.
The ACA also established a number new rules for insurance. The ACA requires that insurance companies provide coverage for pre-existing medical conditions as well as all health benefits. For eligible medical expenses, an HSA (health saving account) can be used. All insurance plans must be compliant with the ACA rules pertaining a coverage.
Most Idahoans can now shop for new insurance plans through the Affordable Care Act. The open enrollment period to the ACA will be in November. You will have a 60-day window during which you can change or switch to your current plan. This makes it easy for those who don’t like their current coverage make the switch.
Of course, the most important thing to know is that you can apply Medicaid. This federally funded program will offer basic health and dental services for low-income persons. These benefits include immunizations and hospitalization. Furthermore, you'll be able to get your children's vaccinations, too.
An individual insurance policy may be the best option for you, depending on your financial situation. The best plan for you will depend on your personal health and whereabouts. Shop around to find the best plan. In the unlikely event you lose your coverage, there are special enrollment periods.