Since the introduction of Obamacare, or the Affordable Care Act to give it the proper title, more and more people who weren’t previously covered for health insurance now have at least basic coverage. This applies across the entire United States with the Grand Canyon State being no exception and affordable Arizona health insurance for individuals is now a reality.
Qualification for Obamacare
American citizens under 65 years of age are now required to have health insurance coverage from somewhere or face fines under the Individual Mandate contained in the Affordable Care Act. These fines can cost close to $1,000 and sometimes more depending on your family’s annual income.
But fear not! Depending on your financial situation and other personal circumstances you may qualify for health insurance at a reduced rate under the ACA. Or you may qualify for tax credits to offset the cost of insurance premiums.
The requirements for qualification are many and varied and the best thing to do is seek advice from a health insurance provider, the Arizona Health Insurance Exchange or through the internet website healthcare.gov.
Broadly speaking, any U.S. citizen under 65 or legal immigrant in the States is eligible for Obamacare with prison inmates being the exception. As to the level of coverage you will receive, that will depend on which insurance plan you chose.
Obamacare Health Insurance Policies
Insurance plans under Obamacare come in four classes and the more insurance coverage you require the more the premiums will cost.
Platinum. Covers 90% of costs.
Gold. Covers 80% of costs.
Silver. Covers 70% of costs.
Bronze. Covers 60% of costs.
All essential medical requirements are covered in the above plans including hospital and outpatient treatment, prescription medications and maternity care and the quality of care provided is the same regardless of which plan you choose.
A Catastrophic Solution
With Obamacare there is a fifth option available when looking for affordable Arizona health insurance for individuals. Available in Arizona but not in all states, the “catastrophic” insurance scheme is cheaper than any of the other plans but is only available to those under 30 years of age or for people who can’t find a suitable insurance plan for less than 8% of their yearly income. Although cheaper, it may be a false economy as you will probably be required to pay the first few thousand dollars of your medical fees before the insurance kicks in.
Of the five levels of coverage under Obamacare, the Silver option and Catastrophic coverage are by far the most popular choices.
Getting the most affordable Arizona health insurance for individuals available from here will depend on a number of factors including:
- How much coverage you require or can afford
- Whether you qualify for tax credits or a subsidy on your premiums
- Your location in Arizona
- Your age
- Whether you are a smoker or non-smoker
There isn’t much you can do about the first four items on the list but quitting smoking is certainly achievable and the money saved on tobacco will easily cover the costs of your health insurance premiums.