American Insurance health agents are certified to show all options to local clients.
Individual medical plan premiums through Your Health Idaho, the Idaho exchange, went up in 2018.
The Idaho Department of Insurance announced the final 2018 premium rates. While the overall rate increases on Bronze and Gold plans were less than 10 percent, the average increase on Silver plans was 40 percent. The Department allowed carriers to price the Silver plans to account for the potential loss of federal funding for Cost Share Reductions, or CSRs.
“The rate increases, in particular on Silver level plans, are definitely greater than we would like. There is legitimate uncertainty regarding continued federal payments of CSRs, which is a benefit carriers are required to provide by law to eligible, low-income individuals,” said Idaho Department of Insurance Director, Dean Cameron. “If the federal government commits to fund the CSRs in 2018, the Silver rates could be reduced over 20%.”
American Insurance Health Agents, Tim Gleason and Dave Root, are certified for the Idaho and Washington Health Exchanges. They can shop all plans in the exchange and educate you on the differences and coverage that each plan offers.
“Our exchange certified Agents know how to find the best options to match your needs, with access to multiple companies competing for your business,” said Gleason.
If Congress funds CSRs, the Department would be able to reduce rates accordingly. A rate reduction would also reduce advance premium tax credits. Consumers are encouraged to choose plans carefully, with the understanding that congressional action could affect rates.
“While many other states have been struggling to keep even one company in the individual market, Idahoans continue to have at least four companies offering plans in each county for 2018,” said Cameron. “These companies are committed to offering individuals health insurance options and to working with the Department to find state-based solutions such as the dual-waivers we are pursuing with the Department of Health and Welfare.”
The final 2018 rate adjustments and justifications for each carrier are published on the Department website, along with an interactive tool where individuals can click on their geographical location to find plans sold in that area and see the rate adjustments per plan. Individuals can also use the website to compare prices by metal level (Bronze, Silver, Gold, or Catastrophic).
“American Insurance health agents can provide up-to-date information about which physicians are covered by various plans so they can avoid paying out-of-network rates,” Gleason concluded.
Get Local, No-Cost Assistance
Washington and Idaho residents are invited to contact our Exchange Certified Health Agents, Dave Root or Tim Gleason, online hereor by calling 208-746-9646 to discuss your health care options at any time.
The content of FAQ articles are general in nature and are not intended as a substitute for professional legal, financial, or insurance counsel for individuals. Insurance coverage forms vary by issuing company and by state. For specific advice contact us.
American Insurance is an independent insurance agency with offices in Lewiston and Moscow, Idaho.