When it comes to health insurance, Idaho offers its residents a number of options. 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 is a program that provides low-cost or free coverage for people who meet the requirements.
The Affordable Care Act (ACA), also has a significant impact on residents of the state. You might be able reduce your monthly payment if the premium tax credit is available to you. You can also purchase an off-market plan through an insurance broker. Be sure to research the pros and cons of each option before you make your final decision.
Three primary metal tiers or classes are available for Idaho health insurance. Each class has plans with different 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 provide coverage for 70% of your medical bills, while a Golden class plan will provide coverage for 80 percent.
The bronze class covers up to 60% of your medical expenses and is the most affordable. Your monthly premium will be more expensive than that of the gold class. Similarly, the silver class will have lower deductibles and copayments.
In fact, the largest percentage of Idaho's population is 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. 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 also established a number new rules for insurance. The ACA requires that insurance companies provide coverage for pre-existing medical conditions as well as all health benefits. You can also use an HSA (health savings account) to pay for eligible medical expenses. All insurance plans must be compliant with the ACA rules pertaining a coverage.
The Affordable Care Act allows Idaho residents to shop for new 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. This allows those who are unhappy with their current coverage to easily 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 immunizations and hospitalization. Furthermore, you'll be able to get your children's vaccinations, too.
You might want to look into individual health insurance plans depending on your finances and health. It all depends on what your needs are and where you live. Shop around to find the best plan. In the unlikely event you lose your coverage, there are special enrollment periods.