Idaho has many options for health insurance. The state is home to numerous carriers, including Blue Cross of Idaho, Regence Blue Shield of Idaho, Molina, and PacificSource. Idaho offers Medicaid, a federally-funded program for people with low incomes. Medicaid offers free or low-cost coverage to those who are eligible.
The Affordable Healthcare Act (ACA), has a major impact on the state's citizens. You might be able reduce your monthly payment if the premium tax credit is available to you. Another option is to purchase an offmarket plan from an agent. Before you make your final decision, be sure to understand the pros and cons of each option.
Idaho has three main metal classes or tiers of health insurance. Each class includes plans with various levels of features. For example, the Silver class is for moderate health care needs, while the Gold class is for chronic illnesses. A Silver plan will pay 70% of your medical expenses, while a plan with a Gold classification will pay 80 percent.
The bronze level covers 60 percent of your medical bills and is the cheapest. Your monthly premium will be more expensive than that of the gold class. Similarly, the silver class will have lower deductibles and copayments.
Idaho has the highest percentage of individuals who are insured by individual market policies. For an example, the average cost of an individual health insurance policy in Idaho is $231 per year. While it is a good price compared with a standard plan, it isn't a great deal if the policy you are looking for is more comprehensive.
The ACA also introduced new regulations regarding health 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. Finally, all insurance plans must conform to the ACA rules governing coverage.
Most Idahoans can now shop for new insurance plans through the Affordable Care Act. The November open enrollment period for ACA starts. You'll have 60 days to switch or modify your current plan. This makes it easier for those who don't like their current coverage to make the switch.
The most important news is that Medicaid can be applied for. This federally funded program will offer basic health and dental services for low-income persons. These benefits include doctor visits, immunizations, and hospitalization. You can also get the vaccinations for your children.
Depending on your health situation and budget, you may want to consider purchasing an individual health insurance plan. The best plan for you will depend on your personal health and whereabouts. Shopping around will help you to find the best plan. Remember that you can enroll in special periods if your coverage is canceled.