When the federal healthcare law came into effect, there became a need for a market for health insurance known as the Exchange. The Exchange in Idaho is called Your Health Idaho.
Your Health Idaho will provide 146 plans in total, coming from 7 Idaho carriers. Generally speaking, there will be a wide range of plans for you to choose from. There will be 61 plans for individuals and for families, 55 health plans for small groups, 13 dental plans for individuals and 17 dental plans for small groups.
The main providers that offer these plans include BEST Life and Health Insurance Company, Delta Dental of Idaho, Blue Cross of Idaho, PacificSource Health Plans, Blue Cross of Idaho, the Guardian Life Insurance Company of America, and SelectHealth, Inc.
Different Health Insurance Plans
The different plans will all have different insurance levels, as well: the bronze level at 60%, the silver level at 70%, the gold level at 80% and the platinum level at 90%. Naturally, if you choose a higher plan, you will reduce the amount of out-of-pocket expenses. There will also be catastrophic plans available for people under 30 years old with high deductibles.
Depending on how much money you make, you might be eligible for tax credits, subsidies or Medicaid to help you out with your insurance costs, too, though. Anybody under 133% of the poverty level or $15,000 in annual wages for one person or $30,000 in annual wages for families of four will qualify for Medicaid.
Tax credits will be based on the Silver Plan. This will make it easier for people to figure out what their extra out-of-pocket expenses will be for each plan, in general. These plans are now available for purchase, but they won’t be effective until January 2014. Open enrolment will last until March 2014.
By 2015, financial protection will include a maximum out-of-pocket expense of $6,350 for individuals and $12,700 for families, which can significantly help people reduce their risk for bankruptcy. A lot of people tend to go bankrupt because they aren’t able to cover their medical bills outside of insurance.
All of these plans will provide the same essential services of doctor visits, hospitalization, emergency services, newborn and maternity care, substance use disorder and mental health services and treatments, rehabilitative devices and services, prescription drugs, pediatric services, chronic disease management, wellness and preventive services, and laboratory services.