There are several distinct categories of health insurance available on the market today. There are also different methods of obtaining coverage in Florida, each of which is determined by the state’s market conditions as well as the kind of insurance that is optimal for the policyholder.
During the open enrollment period, residents of Florida have the option of purchasing health insurance policies from either private providers or the government exchange. If you have a life event that makes you eligible for a special enrollment period outside of open enrollment, such as getting married or losing coverage, you might sign up for health insurance at a discounted rate. Outside of the open enrollment period, Floridians also have the option of enrolling in short-term plans for rapid coverage that does not need a qualifying life event.
Also, if you don’t get health insurance benefits from an employer in Florida, you have many alternatives available to you, including the following:
- A web-based retail establishment such as Health Markets.
- An authorized representative in person or over the phone.
- The federal government’s insurance exchange.
- Straight from the insurance company themselves.
- Programs for low-income citizens that are financed by the state.
Because the state of Florida utilizes the federal health insurance marketplace, citizens of Florida can sign up for Affordable Care Act health insurance plans through registered health insurance brokers such as eHealth.
You’ll probably have a decent chance of earning government subsidies to cut your expenses when shopping for individual or family health insurance in Florida under the Affordable Care Act, which is often referred to as Obamacare. This bill was signed into law in 2010 and became effective in 2014. There are other state programs in Florida including Medicaid and the Children’s Health Insurance Program that may provide you with health coverage at a reduced cost or even for free. Medicare might be a more cost-effective alternative for you if you are 65 years old or over (or handicapped).
What Is the Cost of Health Insurance in Florida?
Platinum, gold, silver, and bronze are the four primary tiers of coverage that are offered by the Affordable Care Act (ACA). These plan levels, which are also sometimes referred to as “metal levels,” differ according to the amount of out-of-pocket expenses that you are liable for paying after you have satisfied your deductible. In most cases, the smaller your monthly premiums will be, the larger your part of the total expenses will be.
The bronze plans have the most affordable premiums but the greatest out-of-pocket expenses, whereas the platinum plans have the most expensive premiums but the least expensive out-of-pocket charges. Your financial situation and the nature of your medical requirements should guide your choice of health insurance coverage.
A person living in Florida may anticipate spending an average of $467 per year on their own for a major medical personal health insurance plan. Prices are subject to change, and if you are in excellent health, your monthly rates may be reduced.
The price of a bronze membership is around $467, the price of a silver membership is approximately $539, and the price of a gold membership is approximately $667.
This is the average price of a plan that is offered by eHealth in the state of Florida; however, the actual costs that are offered vary depending on criteria such as zip code, age, gender, and other characteristics. Request a customized estimate to investigate the options that might be made accessible to you.
Is Health Insurance Mandatory in Florida?
Since the federal government’s requirement for individuals to have health insurance coverage was eliminated in 2017, Florida citizens are not legally obligated to maintain health insurance coverage. A health insurance policy may only be obligatory in select areas but having one may help protect you against unforeseen expenses related to medical care.
Short-Term Health Insurance Plans in Florida
Plans under the Affordable Care Act are beneficial for providing long-term coverage. But what if you just need health insurance for a short period to hold you over until you begin receiving coverage through your employer or Medicare? Or until the beginning of the Open Enrollment Period for the Affordable Care Act? You may even need a low-cost interim solution due to another reason. Either way, there are solutions for health insurance available for a shorter time period.
Short-term coverage may be purchased in the state of Florida for periods ranging from one month up to three years and thirty-six months. The positives of short-term plans include the flexibility to terminate your coverage at any point throughout the year, the possibility of obtaining coverage within twenty-four hours of submitting your application, and the ability to apply at any time during the year.
However, since short-term plans do not comply with the Affordable Care Act (ACA), they are exempt from the requirement that they provide the ten basic benefits mandated by the legislation. These benefits include maternity care, prescription medicines, and free preventive treatments. In addition, the protections offered by Obamacare enrollment for pre-existing conditions are not included in these plans.