How to find the best insurance options for your state
Insurance agencies often tell us that people should look at their individual state insurance policies first, and then take a look at the policies in their states’ exchanges.
But there’s no such guarantee in the case of an individual state’s exchange, which is set to launch nationwide on Jan. 1.
The states that have opened their marketplaces have their own rules and procedures for what to expect, so you’ll have to find out if the plans you find fit your needs.
Here’s a look:1.
Are you eligible for subsidies?
If you’re not eligible for federal subsidies, then you’re going to have to do some work to find coverage.
There are some exceptions to this rule, like people who earn up to $125,000 per year, who have a spouse or dependents who are eligible for subsidized health insurance, or who have pre-existing conditions.
If you qualify, then, you’ll be able to find health insurance on the state exchange.2.
Where can I find coverage?
Many states are offering free or reduced-price plans for enrollees, and some states are also offering discounts to individuals and families.
Check out the details on each state’s marketplace, but here are a few important things to know before you start:3.
Will my state offer subsidies?
Many state insurance commissioners have already announced plans to offer subsidies to low- and moderate-income people and families, as well as low-income employers.
There’s no deadline for when states will offer these subsidies, and there’s a chance that the subsidies may be delayed or discontinued in some states.4.
What’s the difference between the federal and state exchanges?
States can offer plans through either exchange.
States that offer plans in their own state will have the option of choosing the federal exchange.
Some states have opened up their exchanges, but others have not.5.
Do I need to get insurance in my state?
No, but some states require a health-care provider certification from a health insurance agent before offering plans on the exchange.
This will help you know what your state’s plan covers.6.
How much does it cost to get coverage?
Most plans are cheap to get on the federal marketplace.
The federal plan typically comes with a few benefits, including free preventive care.
The state exchange, however, offers plans that typically cost about $100 per month or less.
Most states will have prices that are cheaper to buy through the state exchanges.7.
Will I be able get health insurance through the federal government or state exchanges if I’m uninsured?
The federal government has the option to cover some people who have coverage through their employer, but it is not guaranteed.
Many states do not have that option, and you will need to work with your employer to determine if it’s worth it.8.
Will people get subsidies?
There’s not much to say about this.
The plans offered on the exchanges are not subsidized.9.
Will states provide discounts to my employer?
If your employer provides benefits to their workers, then that might be an option for you.
You can apply for a premium discount through the exchange if your employer offers that plan.10.
Can I shop for insurance in other states?
But you can use some other online tools, such as the website HealthCare.gov, to compare different plans in your state.11.
Can insurance be purchased at the federal, state, or local level?
Insurance companies are not allowed to provide plans on state exchanges at the same time.
Some insurers are also allowed to offer plans on individual states’ plans, but you have to go through an insurer’s application process in order to be eligible for coverage in a state.
Some insurance companies offer plans with no subsidies at all.12.
Do they offer the same plans to every state?
There are plans that are offered by state exchanges, and state exchange plans are different from state insurance companies’ plans.
State exchange plans generally include the same health benefits as state-level plans, and offer discounts for some people.13.
Can states provide the same insurance coverage as the federal exchanges?
Some states are allowed to do so.14.
How do I get insurance on a state-run exchange?
In some cases, insurers can offer more generous plans, which may include more generous benefits, such with prescription drugs, or coverage for maternity and newborn care, or other coverage that you might not find on a local exchange.
However, you may have to pay more for those benefits.