Since Obamacare or the Affordable Care Act, more people not previously covered by health insurance now have at least basic coverage. This coverage applies across the entire United States, with the Sunshine State being no exception, and affordable Florida health insurance for individuals is now a reality.
Qualification For Obamacare
American citizens under 65 are now required to have health insurance coverage from somewhere or face fines under the Individual Mandate contained in the Affordable Care Act. Depending on your family’s annual income, these fines can cost close to $1,000 and sometimes more. However, Florida Insurance Quotes says, “Do not fear.” You may qualify for health insurance at a reduced rate under the ACA, depending on your financial situation and other personal circumstances. Or you may be eligible for tax credits to offset the cost of insurance premiums.
The requirements for qualification are many and varied. Moreover, the best thing to do is seek advice from a health insurance provider, the Florida Health Insurance Exchange, or through the internet website healthcare.gov.
Any U.S. citizen under 65 or a legal immigrant in the States is eligible for Obamacare, with prison inmates being the exception. The level of coverage you will receive will depend on which insurance plan you choose.
Obamacare’s Florida Health Insurance for Individuals
Insurance plans under Obamacare come in four classes, and the more insurance coverage you require, the more the premiums will cost.
Platinum: Will cover 90% of costs.
Gold: Will cover 80% of the costs.
Silver: Will cover 70% of the costs.
Bronze: Will cover 60% of the costs.
Insurance covers all essential medical requirements in the above plans. Furthermore, coverage includes hospital and outpatient treatment, prescription medications, and maternity care. As a result, the quality of care is the same regardless of which plan you choose.
A Catastrophic Solution
With Obamacare, a fifth option is available when looking for affordable Florida health insurance for individuals. Available in Florida but not in all states, the “catastrophic” insurance scheme is cheaper than any other plan. Still, it is only available to those under 30 years of age or 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.
According to Obamacare, the Silver option and Catastrophic coverage are the most popular choices.
Cutting the Cost of Florida Health Insurance for Individuals
Getting the most affordable Florida health insurance for individuals available from here will depend on several factors, including:
- How much coverage do you require, or can you afford
- Whether you qualify for tax credits or a subsidy on your premiums
- Your location in Florida
- Your age
- Whether you are a smoker or non-smoker
It isn’t much you can do about the first four items on the list. However, quitting smoking is undoubtedly achievable. In addition, the money saved on tobacco will easily cover the costs of your health insurance premiums.