Finding the right health insurance plan can be an overwhelming process. Since each state varies on requirements, it’s best to take a look at the costs of available health insurance plans in Indiana so you can better assess the right policy for you and the whole family.
Indiana is one of the six states that holds a partnership health insurance exchange with the federal government. Also, Indiana does not enforce an individual mandate (which has since been negated), which means that residents could choose to go uninsured without any penalty.
It’s best to have coverage options. Life can get unpredictable, and having coverage is the best way to avoiding bankruptcy and foreclosure from unforeseen medical debt. So while residents can go uninsured, they also have the option to choose from two types of health insurance plans:
Qualified plans are ACA-compliant plans that cover all ten Essential Health Benefits, which are a list of guaranteed services like emergency room care, pediatric care, and more.
Non-qualified plans are not ACA-compliant, but they are typically less expensive and still offer different types of comprehensive coverage depending on your needs.
If you choose to enroll in a qualified plan, you can enroll through HealthCare.Gov, or a private exchange like AHiX Marketplace. The advantage of using a private exchange like AHiX is that you can shop the same qualified plans at healthcare.gov, but also have access to the many non-qualified plans and supplemental coverages not offered at healthcare.gov.
These plans can help cover individual, family, and short term healthcare costs.
Since the ACA was introduced in 2010, Indiana is one of the several states that have done the least to keep the advantages of the program. Taking only two actions to keep the efforts of the act, Indiana does offer ACA-compliant qualified plans, and they are comparable to other states’ policies. Even so, residents can choose from a variety of policies that fall under qualified, non-qualified, and short-term health insurance options.
Individual health insurance is a type of coverage you buy for yourself. You can purchase it through your employer or private or public exchange. Both individuals and married couples may qualify for their health plan.
For ACA qualified plans, individuals can expect these average costs of premiums in Indiana (Age 40, Zip code 46001):
If the cost of qualified plans is too expensive for you or your spouse, then you could also look into non-qualified policies. They do offer less coverage, but they are ideal for generally healthy adults who don’t need all ten Essential Health Benefits that the ACA covers.
Family health insurance is a type of coverage you buy for the whole family, which includes you, your spouse, and any dependents. You can purchase it through your employer or on the public or private exchange.
In Indiana, a family in the 46001 zip code with children can expect these monthly premiums under qualified plans:
A married couple with one child
A married couple with two children
A married couple with three children
While families with children under 19 years old may qualify for the Children’s Health Insurance Program (CHIP) in Indiana, this is entirely dependent on your income and whether or not you are eligible for Medicaid. Another option would be to look into non-qualified plans, which are healthcare policies with less coverage at lower costs.
Short-term health insurance in Indiana is a temporary coverage designed to bridge the gap between finding a more permanent plan. They are easy to apply for and can be done online. Most people receive acceptance within minutes with coverage starting the very next day. Some people who may benefit from short-term health insurance include those who:
Indiana follows the federal rules in terms of duration, which include terms up to 364 days and renewals for up to 3 years, providing continuous coverage for up to 36 months. However, there are state-enforced restrictions, including a benefit cap of at least $2 million, which is the total cost amount of benefits your insurer will cover each year during enrollment.
Since Indiana does not completely follow the guidelines of the Affordable Care Act, there are numerous options when it comes to finding health coverage. While you may stay uninsured, you can also choose from a variety of healthcare plans, whether they’re qualified, non-qualified, or temporary options like short-term health insurance.
If you’re not sure where to start, then AHiX can make this process simpler. As a free marketplace, you can freely browse through hundreds of qualified and non-qualified plans. Find the right policy for you or your family today.