Idaho residents have a variety of choices when it is comes to 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 provides free or reduced-cost coverage for eligible individuals.
The Affordable Healthcare Act (ACA), has a major impact on the state's citizens. Your monthly premium may be reduced if you are eligible for a tax credit on premiums. You can also purchase an off-market plan through an insurance broker. It is important to fully understand the advantages of each option before making your final choice.
Three primary metal tiers or classes are available for Idaho health insurance. Each class offers plans with different levels of features. For example, the Silver class is for moderate health care needs, while the Gold class is for chronic illnesses. A Silver plan will pay 70% of your medical expenses, while a plan with a Gold classification will pay 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. The silver class will also have lower copayments and deductibles.
In fact, the largest percentage of Idaho's population is covered by individual market policies. For an example, the average cost of an individual health insurance policy in Idaho is $231 per year. 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 insurance companies to offer coverage for pre-existing conditions, and to cover all necessary health benefits. To pay for medical expenses, you can also use an HSA. All insurance plans must adhere to the ACA rules regarding coverage.
The Affordable Care Act allows Idaho residents to shop for new plans. The open enrollment period to the ACA will be in November. During this time, you'll have a 60-day window to change or switch your current plan. This allows people who aren't satisfied with their current coverage, to make the switch.
The best news is that you are eligible to apply for Medicaid. This federally funded program will provide low-income individuals with basic health and dental services. These benefits include immunizations and hospitalization. Furthermore, you'll be able to get your children's vaccinations, too.
An individual insurance policy may be the best option for you, depending on your financial situation. Your health situation and whereabouts will determine which plan is best for you. You can find the best plan for you by shopping around. Also, remember that there are special enrollment periods available in case you lose your coverage.