Idaho Health Insurance Plan Average Cost

Cost Of Health Insurance In Idaho

There’s a lot going on when it comes to buying health insurance for your family or just for yourself. The insurance marketplace in Idaho has an average cost per month of $520 for 2020—from 498 in 2019 and a 1% increase in the rate for the year 2021.

Aside from this, age, location, plan category, and lifestyle are the factors that can greatly affect your monthly premiums rate.

Idaho residents are required to have health insurance to protect themselves against the cost of medical care. However, if you are eligible for Obamacare subsidies, your premiums might cost less than the average premiums.

Let’s take a look at the average monthly premiums for 2020 in Idaho health insurance plans. Below are the average and cheapest costs for every tier.

• Bronze Premium: $329
• Silver Premium: 512
• Gold Premium: 551

** Keep in mind that these are the average cost of premiums, but this does not reflect an exact amount of your insurance rate. If you need more help with your current coverage or planning to buy insurance, you can call our office to help you narrow down the best and affordable price of your health insurance plan. And maybe you’ll know if you qualify for insurance for low-income subsidies.

Idaho Coverage Options For Low Income

Most of the residents of Idaho are qualified to buy health insurance through the government healthcare program, Your Health Idaho is a state’s run health insurance marketplace or Affordable Care Act (ACA) marketplace. This state’s program can help you save money on premiums.

There are two forms of government-funded health insurance that can help you save a lot for your premiums. These are the:

• Medicaid

The state of Idaho is one of the counties that have expanded its Medicaid program to low-income residents who earn 138% to 400% of the federal poverty level. You may be able to save much money on premiums if you qualify for Idaho Medicaid. The requirements you must meet are:

• You’re either pregnant
• A child under 19
• Parent or caretaker of a child
• 65 or older
• Or blind or disabled.

As of June 2019, Idaho's Medicaid enrollment was 384,416.

• CHIP (Children’s Health Insurance Program)

Additional way to get fewer insurance premiums, if you do not qualify for Medicaid and have uninsured children in your household under 19 years old. CHIP can qualify your children, you may pay $10 up to $15 a month for each enrolled child. A total of 26,000 residents have enrolled in CHIP as of October 2019.

If you’re still confused about what health insurance is right for you, it is best to ask for a trusted and knowledgeable agent or broker that has encountered a different situation. That way, they can help you find the cheapest and affordable health insurance for you and your family.

The bottom line is insurance is just around the corner, there are a number of resources you can find on the internet to provide you a better and affordable premium. Make sure to compare different quotes from a different company so you can choose what is best for your situation and will fit right according to your needs.

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