Idaho moves forward with health insurance enrollments
Officials in both states anticipate premium increases of more than 20 percent, but low-income consumers who qualify for federal government help won't necessarily be paying more, said
"Even though premiums go up, so do your tax credits," Kelly said.
Kelly is traveling through
"The (Affordable Care Act) is still the law and we're here with that
Doing the research right away is important because insurance agents in both states expect to be busy during open enrollment periods.
If residents of either state do nothing, they will automatically enroll in plans that are the same or similar to what they have now, which may or may not be making the best use of their health care dollars.
The costs and tax credits vary widely depending on age, household income, place of residency and how many individuals are covered, Kelly said.
Tax credits provided through the Affordable Care Act are based on silver, or mid-level, coverage -- one of three levels offered in the exchanges and the category where premium increases are expected to be the steepest.
That means someone might be able to upgrade to gold coverage for 2018 without paying a whole lot more in out-of-pocket expenses.
"Everyone's situation changes," Kelly said. "One year you may be planning a particular medical event. You may have a change in dependents. You may have moved. ... It's important for people to go out and see what's available."
It's not just the situations of families that will be different this year. President
Those earning less than 400 percent of the federal poverty level still qualify for tax credits on their premiums. Those between 100 percent and 250 percent of the poverty level receive help in the form of cost-sharing reductions for out-of-pocket expenses such as deductibles and copayments.
While qualifying individuals will still get those benefits, private insurance companies that offer the coverage won't be reimbursed, so they are covering the higher costs through premium increases.
Despite what is happening at the federal level,
Kelly anticipates that will continue regardless of shifts that occur on the federal level.
"In terms of being able to predict what the future holds, my crystal ball broke long ago. But what I know is we're ready to shift and be nimble to whatever is next."
Online enrollment and additional information about the exchanges are available at yourhealthidaho.org for Idahoans and www.wahealthplanfinder.org for Washingtonians.
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Williams may be contacted at [email protected] or (208) 848-2261.
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