Idaho has many options for health insurance. Numerous carriers are available in the state, including Blue Cross Idaho, Regence Blue Shield Idaho Molina, PacificSource, and Regence Blue Shield Idaho. 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 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. A broker can also help you buy an off-market policy. Before you make your final decision, be sure to understand the pros and cons of each option.
Idaho has three main metal classes or tiers of health insurance. Each class includes plans with various 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 category is the most expensive, covering up to 60% of your medical costs. However, your monthly premium will be higher than the gold class. Similarly, the silver class will have lower deductibles and copayments.
The largest proportion of Idaho's residents are covered by individual market policies. To put this in perspective, the monthly average premium for an individual state health plan is $231. While this is a good deal compared to the cost of a benchmark plan, it's not a bargain if you're in the market for a more comprehensive policy.
The ACA created a variety of new regulations for health insurance. The ACA requires insurance companies to offer coverage for pre-existing conditions, and to cover all necessary health benefits. You can also use an HSA (health savings account) to pay for eligible medical expenses. 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. The November open enrollment period is for the ACA. During this time, you'll have a 60-day window to change or switch your current plan. It makes it much easier for people who don't like the current coverage to switch.
The best news is that you are eligible to 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. 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. Keep in mind that special enrollment periods are available for those who lose their coverage.