Idaho has many choices when it comes 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. Additionally, Idaho provides Medicaid, a federally funded program for low income individuals. Medicaid provides free or reduced-cost coverage for eligible individuals.
The Affordable Care Law (ACA) has a huge impact on the state's residents. You may be eligible for a premium credit that can reduce your monthly premium. Alternatively, you can purchase an off-market plan from an insurance broker. However, before you make your final selection, it's important to know the benefits of each option.
Three primary metal tiers or classes are available for Idaho health insurance. Each class offers plans with different levels of features. The Silver class can be used for minor health issues, while the Gold category can be used for more serious conditions. 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. However, your monthly premium will be higher than the gold class. Similar to the gold class, silver will have lower deductibles or copayments.
The largest proportion of Idaho's residents are covered by individual market policies. For an example, the average cost of an individual health insurance policy in Idaho is $231 per year. 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 created a number of new health insurance regulations. The ACA requires insurance companies to offer coverage for pre-existing conditions, and to cover all necessary health benefits. For eligible medical expenses, an HSA (health saving account) can be used. Lastly, all insurance plans must comply with the ACA rules pertaining to coverage.
With the Affordable Care Act in place, most Idaho residents can shop for new health insurance plans. 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. It makes it much easier for people who don't like the current coverage to switch.
Of course, the most important thing to know is that you can apply Medicaid. This federally funded program offers basic health care and dental services to low income individuals. These benefits include immunizations and hospitalization. Furthermore, you'll be able to get your children's vaccinations, too.
Depending on your health situation and budget, you may want to consider purchasing an individual health insurance plan. The best plan for you will depend on your personal health and whereabouts. Shopping around is a great way to find the best plan. Remember that you can enroll in special periods if your coverage is canceled.