Idaho has many options for health insurance. There are many carriers in Idaho including Blue Cross of Idaho and Regence Blue Shield Idaho, Molina, as well as PacificSource. Idaho also provides Medicaid, a federally supported program for individuals with low income. 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. A premium tax credit may allow you to lower your monthly premium if you meet certain criteria. Alternatively, you can purchase an off-market plan from an insurance broker. 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 offers plans with different levels of features. For example, the Silver plan is for moderate needs and the Gold for chronic conditions. A Silver class plan will cover 70 percent of your medical costs, while a Gold class plan will cover 80 percent.
The bronze class, which covers up to 60 percent your medical costs, is the least expensive. However, your monthly premium will be higher than the gold class. Similar to the gold class, silver will have lower deductibles or copayments.
Idaho's largest population is actually covered 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 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. For eligible medical expenses, an HSA (health saving account) can be used. Finally, all insurance plans must follow the ACA rules pertaining coverage.
Idahoans now have the ability to shop for health insurance plans with the Affordable Health Act. Open enrollment for the ACA begins in November. You have 60 days to cancel or change your existing plan. This makes it easy for those who don’t like their current coverage make the 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 hospitalization, doctor visits, and immunizations. You will also be able get the vaccines for your children.
You may be able to purchase individual health insurance depending on your budget and health. It all depends on what your needs are and where you live. You can find the best plan for you by shopping around. In the unlikely event you lose your coverage, there are special enrollment periods.