When it comes to health insurance, Idaho offers its residents a number of options. 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 provides free or reduced-cost coverage for eligible individuals.
The Affordable Care Act (ACA), also has a significant impact on residents of the state. A premium tax credit may allow you to lower your monthly premium if you meet certain criteria. A broker can also help you buy an off-market policy. Be sure to research the pros and cons of each option before you make your final decision.
Idaho has three main metal classes or tiers of health insurance. 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. Similarly, the silver class will have lower deductibles and copayments.
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. 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 has also brought new regulations to health insurance. Insurance companies must offer coverage for preexisting health conditions and provide all necessary health benefits. You can also use an HSA (health savings account) to pay for eligible medical expenses. Finally, all insurance plans must follow the ACA rules pertaining coverage.
Most Idahoans can now shop for new insurance plans through the Affordable Care Act. Open enrollment for the ACA begins 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.
The best news is that you are eligible to apply for Medicaid. This federally funded program will offer basic health and dental services for low-income persons. These benefits include immunizations and hospitalization. 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. Shopping around will help you to find the best plan. You can also enroll during special enrollment periods in the event that your coverage is lost.