Health Insurance in Georgia
Protecting your family's health is important; therefore one of the most important purchases you can make is health insurance. Georgia residents have many options when it comes to buying insurance, including low-cost options that can be subsidized, based on income, under the Affordable Care Act (ACA).
If you're on the fence or unsure of what your options are when it comes to buying health insurance, HealthMarkets Insurance Agency can help. We work with a network of over 180 insurance companies nationwide to provide a number of policies.
Georgia's Health Coverage Facts
Even after the passing of the ACA in 2010, Georgia today is still experiencing some of the worst uninsured rate in the United States. Over 280,000 Georgians who made below the Federal Poverty Line were left without health insurance coverage in 2014 due to GA legislation's decision to not expand Medicaid eligibility.
However, in 2015, more than 530,000 GA residents purchased a health insurance plan through public or private marketplaces, like HealthMarkets. This is almost a 200,000 person increase from 2014!
At HealthMarkets, we want to help more Georgians access the health care they need, regardless of their income level. And with the ACA's subsidy program still in place, GA residents have more options than ever to find affordable health insurance.
Subsidies to Pay for Health Plans in GA
From covered preventive services to subsidy programs, the ACA has created many ways for families of all income levels to afford paying for health insurance, regardless of what they tiered plan they purchased.
Ten Essential Health Benefits
As mandatory coverage, every health insurance plan should come with ten essential health benefits. These benefits are required to be covered by health insurance providers so long as services are done at doctors and specialists who work within the provider's network. These benefits include:
- Prescription drugs
- Pediatric services
- Preventive and wellness services, and chronic disease management
- Emergency services
- Hospitalization
- Mental health and addiction services
- Pregnancy, maternity, and newborn care
- Ambulatory patient services
- Laboratory services
- Rehabilitative and habilitative services and devices
In addition to covered services, the ACA also provides subsidy programs to help low-income families pay for monthly premiums and out-of-pocket costs.
Premium Tax Credit
This tax credit is a type of subsidy that helps low-income families making between 100% and 400% of the Federal Poverty Line pay for their monthly premiums. This is done by either having the government pay credit directly to your health insurance provider to supplement the cost of your monthly premiums, or by allowing you to file a tax return to claim the monthly premiums you've paid.
Cost-Sharing Reduction
This cost-sharing reduction is a type of subsidy that helps families making a modest income between 100% and 250% of the Federal Poverty Line pay for their out-of-pocket costs. This means that their health insurance provider can cover a larger percentage of their deductibles, copayments, and coinsurance costs when they receive service than their policy initially states.
HealthMarkets Finds Affordable Health Insurance for Georgia
No matter what type of plan you're looking for, health insurance for Georgia residents can be affordable to all when you shop with HealthMarkets. Our GA licensed agents are ready to enroll you and your family in a plan that works with your budget and medical needs.
Give us a call at (800) 827-9990 or request a free quote online to get started today.
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Sources:
The Georgia Budget & Policy Institute: http://gbpi.org/georgia-falls-to-second-worst-uninsured-rate-in-u-s
IRS: https://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/Questions-and-Answers-on-the-Premium-Tax-Credit
KHN: http://khn.org/news/070913-michelle-andrews-on-cost-sharing-subsidies/
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