Idaho residents have many options when it comes to their health insurance. There are many carriers in Idaho including Blue Cross of Idaho and Regence Blue Shield Idaho, Molina, as well as PacificSource. Idaho offers Medicaid, an federally funded program for low-income people. Medicaid, which can offer free or low cost coverage for all who are eligible, is one of its many benefits.
The Affordable Care Act (ACA), also has a significant impact on residents of the state. Your monthly premium may be reduced if you are eligible for a tax credit on premiums. Another option is to purchase an offmarket plan from an agent. Be sure to research the pros and cons of each option before you make your final decision.
In Idaho, there are three main metal tiers (or classes) of health insurance. Each class comes with a variety of features. The Silver class is designed for those with moderate to severe health conditions, and the Gold class for those with chronic diseases. A Silver class plan will provide coverage for 70% of your medical bills, while a Golden class plan will provide coverage for 80 percent.
The bronze level covers 60 percent of your medical bills and is the cheapest. Your monthly premium, however, will be greater than for the Gold class. The silver class will also have lower copayments and deductibles.
Idaho's largest population is actually covered by individual-market policies. The average premium for an individual insurance plan in Idaho is $231 per monthly. Although this is a better deal than the benchmark plan's cost, it's still not cheap if you need a more comprehensive policy.
The ACA also introduced new regulations regarding health insurance. The ACA requires insurance companies to offer coverage for pre-existing conditions, and to cover all necessary health benefits. An HSA (health savings account), can be used to cover eligible 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 November open enrollment period is for the ACA. You have 60 days to cancel or change your existing plan. This allows those who are unhappy with their current coverage to easily switch.
Of course, the most important thing to know is that you can apply Medicaid. The federally funded program provides basic health care and dental services to low-income people. These benefits include visits to the doctor, immunizations, hospitalization, and more. You will also be able get the vaccines for your children.
You might consider buying individual health insurance, depending on how your budget works and your health. The best plan for you will depend on your personal health and whereabouts. Shop around to find the best plan. Also, remember that there are special enrollment periods available in case you lose your coverage.