What Are the Best Health Insurance Options in North Dakota?
A specific financial instrument, health insurance covers the risk an individual may face due to medical expenses. The benefits for health insurance are administered by either a private for-profit organization or a non-profit charity, or by the government itself, covering either the risk in its entirety or a partial manner. In the United States, the prevalent form of health insurance coverage purchased by individuals is from the private insurance sector.
Types of Health Insurance in North Dakota
For the residents of North Dakota, it is necessary for them to obtain any form of health insurance; providing tax exemptions of $695 for those who have purchased health insurance from either the private sector or have registered themselves for the federal-sponsored Medicaid scheme under the Affordable Care Act. To facilitate easier registration and management of health insurance claims and documentation, the state of North Dakota was one of the first to switch to the federal HealthCare.Org platform in 2014. Within North Dakota, residents can avail the following types of insurance:The Affordable Care Act: The federal government runs the health insurance exchange within the state, giving residents the ability to purchase insurance from a centralized federal insurance marketplace. For those below the poverty level, the Affordable Care Act ensures financial assistance in case of medical expenses. Furthermore, the state actively promotes health insurance among its residents, and provides tax credits for those already insured, or provides insurance for their wards.
Medicaid: The Affordable Care Act provided the extension for the availability of Medicaid benefits for adults within the low-income bracket, ensuring full coverage of medical expenses to nearly 90 million citizens across the country. Medicaid provides a plethora of benefits to the eligible populace, encompassing even those incarcerated in federal prisons, senior citizens and the elderly residing in a nursing home, and those intellectually disabled and staying in intermediate facilities.
CHIP: North Dakota provides Child Health Insurance Policy for children and in low-income households across the state. The facility is also extended to pregnant from low-income households, providing services such as prenatal and post-natal care; as well as pediatric care for infants.
SHOP: North Dakota is famous as an industrial state, and it has a large number of small and medium businesses as well as agribusinesses. To provide small employers with the ability to provide healthcare insurance benefits to their employees; North Dakota is one of the leading members of the SHOP initiative by the federal government. The Small Business Health Options Program provides employers with less than 50 employees to extend healthcare insurance in a business-friendly manner.
Private Insurance: Like the rest of the country, private insurance is the dominant provider of health insurance coverage in North Dakota. For individuals who are ineligible for Medicaid, the state has created registered marketplaces to purchase and register for health insurance; giving buyers a choice to browse across a wide variety of insurance plans.
Conclusion: North Dakota is one of the healthiest states in the country and is ranked the "9th healthiest state" by the United Health Foundation. The state actively promotes healthy living and a healthy lifestyle among its residents and is known for great active and passive health practices. While the state has seen a slight decline in the allocation of public healthcare funds, it is considered to be one of the healthiest states within the United States of America to live in.