Idaho residents have many options when it comes to their health insurance. Blue Cross Idaho, Regence Blue Shield Idaho Molina, PacificSource and PacificSource are some of the carriers available. 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 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. Another option is to purchase an offmarket plan from an agent. 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. There are plans of varying levels in each class. For example, the Silver plan is for moderate needs and the Gold for chronic conditions. A Silver plan will pay 70% of your medical expenses, while a plan with a Gold classification will pay 80 percent.
The bronze class covers up to 60% of your medical expenses and is the most affordable. 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. 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 also created a number of new health insurance regulations. The ACA requires that insurance companies provide coverage for pre-existing medical conditions as well as all health benefits. To pay for medical expenses, you can also use an HSA. Lastly, all insurance plans must comply with the ACA rules pertaining to coverage.
Idaho residents now have access to the Affordable Healthcare Act, which allows them to search for new health insurance plans. The November open enrollment period for ACA starts. You'll have 60 days to switch or modify your current plan. This makes it easy for those who don’t like their current coverage make the switch.
The best news is that you are eligible to apply for Medicaid. The federally funded program provides basic health care and dental services to low-income people. These benefits include immunizations and hospitalization. You can also get the vaccinations for your children.
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. Shop around to find the best plan. In the unlikely event you lose your coverage, there are special enrollment periods.