When it comes to health insurance, Idaho offers its residents a number of options. The state is home to numerous carriers, including Blue Cross of Idaho, Regence Blue Shield of Idaho, Molina, and PacificSource. 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. Alternatively, you can purchase an off-market plan from an insurance broker. You should learn the pros and disadvantages of each option before you make a final choice.
Three primary metal tiers or classes are available for Idaho health insurance. Each class comes with a variety of features. For example, the Silver category is for moderate medical needs while the Gold is for chronic illness. A Silver-class plan will cover 70% of your medical costs while a gold plan will cover the remaining 80 percent.
The bronze class is the cheapest, covering up to 60 percent of your medical costs. Your monthly premium, however, will be greater than for the Gold class. Similar to the gold class, silver will have lower deductibles or copayments.
Individual market policies cover the largest portion of Idaho's population. To put this into perspective, the average premium for an individual health plan in the state is $231 per month. 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 has also brought new regulations to health insurance. The ACA requires all insurance companies to provide coverage for preexisting conditions. They also have to provide all necessary 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.
Idahoans now have the ability to shop for health insurance plans with the Affordable Health Act. The open enrollment period for the ACA is in November. You will have a 60-day window during which you can change or switch to your current plan. This allows people who aren't satisfied with their current coverage, to make the switch.
Of course, the most important thing to know is that you can apply Medicaid. The federally-funded program will provide basic dental and health services for low-income residents. These benefits include medical visits, immunizations as well as 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. It all depends on what your needs are and where you live. Shopping around is a great way to find the best plan. Keep in mind that special enrollment periods are available for those who lose their coverage.