Individual Health Insurance
Thank you for selecting Insure Idaho as you begin searching for the health insurance that is right for you. All agents at Insure Idaho are trained and credentialed in how the new health care laws will impact you. Insure Idaho is here to help!
As you may be aware, Healthcare Insurance is changing in Idaho, and across the country, now more than ever. It is important that you as an individual, or you and your family, check with Insure Idaho to review the insurance companies available in Idaho, and to review medical coverage options that fit your needs and budget.
Many people, and their families, currently have health insurance through an employer. If not, you will need to have health insurance that meet the requirements of the Affordable Care Act (ACA) that became law in 2010, and whose requirements go into effect January 1, 2014. If you elect to opt out of obtaining health insurance you may pay a penalty (tax); a direct impact of the ACA.
Buying health insurance directly through the carriers that Insure Idaho works with is still a great option. However, if you are new to the individual market, or if you want to shop for a new plan, you may qualify to buy insurance that meets the ACA coverage requirements through the new health insurance exchange in Idaho. Doing so may result in lowering your out-of-pocket expenses (your deductible and coinsurance payments) or even lowering your monthly premium payments if you qualify for a new type of premium tax credit. Insure Idaho knows the specifics and is willing to assist you at no cost with any questions you might have.
A Quick Healthcare Q&A:
What is healthcare reform?
The Affordable Care Act (ACA) was passed into law in 2010. Several regulations and laws are already in place and the remaining regulations go into effect January 1, 2014
Do I have to buy health insurance?
The ACA requires all legal US residents to have a qualified health insurance plan or pay a penalty (tax). The tax for 2014 is either 1% of your household income or a flat $95 per adult and $47.50 per child (as applicable) up to a maximum of $285 per family – whichever is the larger amount. The penalty (tax) significantly increases in 2015 and 2016.
What about my current insurance? Will I have to make a change?
If you purchased your health insurance plan prior to March 23, 2010, your plan may be grandfathered under the law; in essence you may be allowed to keep the coverage you have. If you purchased your plan after this date you will need to buy a qualifying insurance plan.
What are the coverage changes?
All plans with an effective date on or after January 1, 2014 must include what is being called 'essential health benefits' that include ambulatory patient services, emergency services, hospitalization, maternity and newborn care, mental health and substance abuse disorder services (including behavioral health treatment), prescription drugs, and rehabilitative and habilitative services and devices.
Do I qualify for assistance in helping pay for my health insurance?
This is based on how much money you make and your family size. Please review the following chart to get an idea of what you may qualify for:
|Family Size||Federal Poverty Level||250% of FPL||400% of FLP|
|If you make less than this, you may qualify for help paying expenses such as deductible and coinsurance payments.||If you make less than this, you may qualify for help paying your monthly premiums|
|For families with more than 8 persons, add $4,020 for each additional person.|
Every individual and family situation is different, however, Insure Idaho is here to help you every step of the way.