Health insurance window opens

Open enrollment for Your Health Idaho, the Gem State’s health insurance exchange, began Nov. 1.

The best advice: Go to the right place for professional help — and start now.

Your Health Idaho is the only place Idahoans can access the Advance Premium Tax Credit, which can drastically offset the plans’ premiums. More than 85% of enrolled Idahoans receive a tax credit that generates average savings of 80%. One in four Idahoans pays zero. Each county has at least three plans to choose from, some places have four choices, and each plan has several tiers of service: bronze, silver or gold.

While all the plans meet minimum standards set by law as to what each covers, the plans do have a number of important differences that vary based on individual plan use. To completely understand the fine print so as not to be surprised by any future bills, Your Health Idaho recommends working with an insurance agent or broker. Their help is free, and you can find a local professional at YourHealthIdaho.org.

These agents are not just licensed experts who have passed a background check, they’re local people in the community that can help you understand exactly what you need to determine which plan fits you and your family.

Expect prices to vary. A single, 35-year-old Idahoan with annual income of $35,000 could see payments as low as $90 a month. A married couple, age 29, with an income of $60,000 per year could pay as little as $134 a month. A married couple in their 40s

with two children and income of $80,000 could see premiums as low as $305 a month, according to data from Your Health Idaho.

The first step is to determine whether you need to go to the exchange for your health coverage.

If you’re on Medicare or have insurance through your employer, you’re already covered. You don’t need to worry about the exchange.

If you’re on the exchange already, your plan will automatically renew. If you are newly Medicaid eligible, your plan will automatically move you off the exchange plan on Dec. 31 and initiate your new coverage Jan. 1 — you don’t need to do anything.

If you’re new to the state, have lost your employer-sponsored health care or want to change plans, now is the time to begin the research, find a pro to help and get organized before the inevitable end-of-year scramble.

The second step is to take a look at YourHealthIdaho.org, which will give you options based on your family size, address and income level. You’ll need a rough idea of your annual household income to get started.

Last: Embrace two facts. Three-quarters of the people who use the exchange work with a local insurance professional to choose their plans. Of these, 90% said they were satisfied with the experience, according to market research.

Unique to the 2020 enrollment year, individuals and families with an income between 0% and 138% of the Federal Poverty Level will now be eligible for Medicaid under the voter-backed expansion initiative that passed in November 2019. Your Health Idaho estimates that 18,000 individuals who received a tax credit through the exchange in 2019 will be eligible for Medicaid beginning Jan. 1, 2020.

“Each year, we encourage Idahoans to complete the application process to determine if they could qualify for a tax credit and lower premiums,” Your Health Idaho Executive Director Pat Kelly said. “For 2020, it’s even more important that Idahoans understand their eligibility and coverage options. Not only do plans change from year to year, but so do the medical needs of Idaho families.” 

All Idahoans who wish to purchase health insurance coverage from the exchange must make their selections by Dec. 23.