Idaho has many options for health insurance. Blue Cross of Idaho, Regence Blue Shield Idaho Molina and PacificSource are just a few of the many carriers that Idaho has to offer. Idaho also offers Medicaid, which is a federally funded program that provides low-income individuals with health care. Among its many benefits, Medicaid can provide free or low-cost coverage for those who qualify.
The Affordable Healthcare Act (ACA), has a major impact on the state's citizens. If you qualify for a premium tax credit, you may be able to reduce your monthly premium. An insurance broker can help you purchase an off market plan. Be sure to research the pros and cons of each option before you make your final decision.
Three classes or primary metals are the three types of Idaho's 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 cover 70% of your medical costs while a gold plan will cover the remaining 80 percent.
The bronze class, which covers up to 60 percent your medical costs, is the least expensive. Your monthly premium, however, will be greater than for the Gold class. The silver class will also have lower copayments and deductibles.
Idaho has the highest percentage of individuals who are insured by individual market policies. To put this into perspective, the average premium for an individual health plan in the state is $231 per month. 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 created a variety of new regulations for health insurance. Insurance companies must offer coverage for preexisting health conditions and provide all necessary 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.
Most Idahoans can now shop for new insurance plans through the Affordable Care Act. The open enrollment period to the ACA will be in November. You'll have 60 days to switch or modify your current plan. It makes it much easier for people who don't like the current coverage to switch.
Of course, the most important piece of news is that you can apply for Medicaid. The federally-funded program will provide basic dental and health services for low-income residents. These benefits include visits to the doctor, immunizations, hospitalization, and more. Additionally, your children will be able receive their vaccinations.
You might consider buying individual health insurance, depending on how your budget works and your health. But, your individual health needs and whereabouts are important factors in deciding which option is right for you. Shopping around can help you find the right plan for your needs. Keep in mind that special enrollment periods are available for those who lose their coverage.