What are the Best Health Insurance Options in Montana?
Montana’s official portal for purchasing health cover is Healthcare.gov and is a federally run exchange. For the financial year starting 2019, the U.S. government has purchased individual health covers optional. So, people do not pay tax penalties for not having health insurance. Whether you choose to buy insurance at the marketplace, directly from a company or through a broker, you will pay the same rate. There isn't any one best insurance plan. Choosing the most optimum plan to suit your needs depends on criteria like your budget, coverage requirements, policy pricing, and offerings among other factors.
Buying a Montana private health plan is the best option for people who are self-employed or for people who are not offered a group plan by their employer. In case you are covered by a group plan, but your spouse and dependents are not, you might consider researching the market for an alternative. Also, if you are enrolled in health plans but you find the premiums too high, or your benefits have changed, you might want to scout around for new health coverage.
Certain health insurance companies in Montana offer individual, and family health insurance packages, which are based on the age of the youngest person in the policy — applying on the same plan benefits especially those couples who have a considerable age difference, for obvious reasons. For couples with a smaller age difference, asking for individual health cover might be a more financially viable option. However, these couples should ensure they purchase plans that cover all their needs.
Montana Medicaid expansion – In 2015 Governor Steve Bullock signed an expansion bill which brought about Montana’s Medicaid expansion waiver. The waiver stipulates that there is financial assistance available for residents who are below the poverty line and who were previously not eligible for Medicaid. It led to a statewide increase in people applying for Medicaid/CHIP, which as of June 2018 stand at over 278,000 residents.
Medicare in Montana – About 20% of Montanans have enrolled in Medicare, which is higher than nationwide enrollments at 17%. So it is a popular option for health coverage in the state. You might want to check your eligibility in private Medicare Advantage plans. These plans could potentially offer you additional benefits when compared with Original Medicare.
Short term plans
Montana uses federal rules for the purchase of short-term health care coverage. Coverage has an initial period of up to 364 days with a total duration (including renewals) of up to 3 years. Preexisting conditions do not have to be covered in short-term policies if medical advice was sought from a health care provider within five years preceding the date of the system. Plans might also exclude certain health benefits like hospitalization, preventive and prescription drugs, etc. The three insurers who offer short-term programs in the state are National General, Independence American Life and UnitedHealthcare (Golden Rule)
For more information on short term plans in Montana visit - https://montanahealthanswers.com/families/short-term/
ACA compliant plans
In 2019, the state of Montana has three insurers who offer the Affordable Care Act (ACA) compliant plans. One of them is ACA-created CO-Ops. It has the first position in terms of market share.
Blue Cross and Blue Shield of Montana
Montanans have been receiving health coverage from Blue Cross and Blue Shield of Montana for almost 70 years. It is one of the largest and oldest health insurance company in the state and offers excellent service and comprehensive packages across hundreds of plans. They currently cover over 240,000 Montana residents and have a network of 1800 doctors and specialists linked to 59 hospitals across the state.
If you require more information, visit- https://www.ehealthinsurance.com/health-insurance-companies/bcbs-montana.
PacificSource health plans
As of March 2018, PacificSource received an A.M. Best Rating of A- (excellent) rating in the state. A.M. judges the financial ability of the company to meet policyholders’ requirements. PacificSource has been providing health care insurance for over 80 years from senior health coverage to pregnant women. They also offer dental plans for individual and families.
For more information, go to - https://www.ehealthinsurance.com/health-insurance-companies/pacificsource-health-plans-montana.
Health insurance plans are categorized into metal tiers (Gold, Silver, Bronze, Expanded Bronze and Catastrophic). These tiers and age are the two major factors that determine how much monthly premium you pay. Lower metal tiers offer less of a comprehensive cover. You pay a lower premium but might have to shell out more in out-of-pocket expenses like deductibles, coinsurance, and copay. Besides, the premium goes up in direct proportion with age. The older a person is, the more likely the risk of using health insurance, hence the higher the premiums.
But remember, the cheapest health insurance might not always be the best health insurance for you. Find a policy that will best cover your family’s health insurance needs.
To make a comparative study of health care plans in Montana, you can use the Health Insurance Shopping Comparison Worksheet available at - http://montanahealthanswers.com/wp-content/uploads/2018/10/Health-Insurance-Policy-Comparison-Worksheet.pdf