Idaho has many choices when it comes health insurance. Numerous carriers are available in the state, including Blue Cross Idaho, Regence Blue Shield Idaho Molina, PacificSource, and Regence Blue Shield Idaho. Idaho offers Medicaid, an federally funded program for low-income people. Medicaid offers free or low-cost coverage to those who are eligible.
The Affordable Care Act (ACA) also has a large impact on the state's residents. You might be able reduce your monthly payment if the premium tax credit is available to you. An insurance broker can help you purchase an off market plan. It is important to fully understand the advantages of each option before making your final choice.
There are three primary metal tiers, or classes, of health insurance in Idaho. Each class has plans with different 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 cover 70 percent, while a G class plan will protect 80 percent.
The bronze class, which covers up to 60 percent your medical costs, is the least expensive. The monthly premium for the bronze class will be lower than that for the gold. As well, copayments will be lower for the silver class.
The largest proportion of Idaho's residents are covered by individual market policies. To put this in perspective, the monthly average premium for an individual state health plan is $231. It's a good deal when you compare it to the cost for a benchmark plan. However, it is not an excellent deal if your goal is to get a more comprehensive coverage.
The ACA also introduced new regulations regarding health insurance. The ACA mandates that insurance companies offer coverage for preexisting conditions and all required health benefits. A HSA (health savings accounts) is also available to help pay for qualified medical expenses. All insurance plans must adhere to the ACA rules regarding coverage.
Idaho residents now have access to the Affordable Healthcare Act, which allows them to search for new health insurance plans. The open enrollment period to the ACA will be in November. You'll have a period of 60 days in which to cancel your current plan or switch it. This makes it easy for those who don’t like their current coverage make the switch.
You can apply for Medicaid, which is the best piece of good news. This federally funded program will provide low-income individuals with basic health and dental services. These benefits include immunizations and hospitalization. Additionally, your children will be able receive their vaccinations.
You might want to look into individual health insurance plans depending on your finances and health. However, the best option for you depends on your health needs and where you live. Shop around to find the best plan. Also, remember that there are special enrollment periods available in case you lose your coverage.