People who have never shopped for health insurance before can feel overwhelmed by the huge number of options, plans, and prices available in the Illinois health insurance marketplace. Thankfully, there are plenty of resources available to help you find the best affordable health insurance options in Illinois that meet your needs and budget. Follow along as we go through all the ins and outs of this process, from determining your eligibility to choosing your plan to applying for subsidies if you qualify. You’ll be an expert on affordable health insurance options in Illinois before you know it!
Employer-Based Plans
A majority of people in the U.S. have health insurance through their employers, which has been a longstanding tradition. If you work for a company that provides health insurance, you’re one of the lucky ones! But what if you don’t? What are your options?
1) Find a job that offers health benefits.
2) Become an independent contractor and buy a plan on your own.
3) Join a small business and purchase coverage as part of the package deal.
4) Purchase COBRA from your previous employer after you leave (assuming they offer this service).
Individually Purchased Plans
Individuals can purchase a health insurance plan either on their own or through a group. If you decide to purchase an individual policy, you will be the only person covered by the plan. This means that if you get sick, injured, or need care, there is no one else to help pay for it. To find out what your options are for individual coverage, visit your state’s marketplace website and select individual from the menu of options.
Short Term Health Coverage
If you are looking for affordable health insurance options in Illinois, you can find them through the Affordable Care Act and some helpful resources. The Affordable Care Act offers a range of options that are available on your state’s individual marketplace. You can also use resources such as Healthcare.gov and the Centers for Medicare and Medicaid Services (CMS) to help you navigate your coverage options.
Medicare
All Medicare beneficiaries are eligible for the Medicare Part A coverage, which covers hospitalization, and the Medicare Part B coverage, which covers medical expenses. The monthly premium for Medicare Part A is $227.00 per month in 2017. The monthly premium for Medicare Part B varies on your income level – if you make $85,000 or less per year, your premium will be $134.00 per year.
Medicaid
If you earn less than $20,000 a year as an individual or $40,000 a year as a family of four then you may qualify for Medicaid. In order to qualify for Medicaid, your income must be below the monthly limit. For families of four, the income limit is around $2,916 per month and for individuals it’s just over $1,461 per month. You can apply for Medicaid by using the online application on their website.
The Importance of Knowing the Different Types of Healthcare Plans Out There
Choosing the right healthcare plan is more important than ever with so many different options available. But how do you know which one is best for you? The main thing to keep in mind when choosing a health care plan is what kind of coverage you’re looking for, whether that be a higher level of prescription coverage or more dental coverage, among other things. It’s also important to think about the co-pays and deductibles that are associated with each plan.