When it comes to health insurance, Idaho offers its residents a number of options. Blue Cross Idaho, Regence Blue Shield Idaho Molina, PacificSource and PacificSource are some of the carriers available. Idaho also offers Medicaid, which is a federally funded program that provides low-income individuals with health care. Medicaid is a program that provides low-cost or free coverage for people who meet the requirements.
The Affordable Care Law (ACA) has a huge impact on the state's residents. If you qualify for a premium tax credit, you may be able to reduce your monthly premium. A broker can also help you buy an off-market policy. You should learn the pros and disadvantages of each option before you make a final choice.
In Idaho, there are three main metal tiers (or classes) of 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 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. Your monthly premium will be more expensive than that of the gold class. As well, copayments will be lower for the silver class.
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. This is a great deal when compared to the price of a benchmark policy, but it's not an affordable option if you want a 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. For eligible medical expenses, an HSA (health saving account) can be used. All insurance plans must adhere to the ACA rules regarding coverage.
With the Affordable Care Act in place, most Idaho residents can shop for new health insurance plans. The open enrollment period to the ACA will be in November. You'll have a period of 60 days in which to cancel your current plan or switch it. This allows people who aren't satisfied with their current coverage, to make the switch.
You can apply for Medicaid, which is the best piece of good news. This federally funded program will offer basic health and dental services for low-income persons. These benefits include immunizations and hospitalization. Additionally, your children will be able receive their vaccinations.
An individual insurance policy may be the best option for you, depending on your financial situation. However, the best option for you depends on your health needs and where you live. Shopping around can help you find the right plan for your needs. In the unlikely event you lose your coverage, there are special enrollment periods.