Health Insurance in Iowa


The number of people without health insurance in Iowa is decreasing, thanks to the number of health insurance options available. This includes subsidized policies with major insurance companies throughout the state. Under the Affordable Care Act (ACA), many Iowans can now be eligible for subsidized payments for their health insurance monthly premiums and out-of-pocket costs.

HealthMarkets Insurance Agency can work with you to find out about the options available in Iowa. We work with a network of more than 3,000 licensed representatives, available at your convenience, to help you find the right health plan for you and your family.

Subsidize Your IA Health Plan

Under the ACA, low-income families have the opportunity to reduce the amount they have to pay for monthly premiums and out-of-pocket expenses in the form of subsidies. There are two types of subsidies that your family may qualify for:

Premium Tax Credit

The tax credit is the type of subsidy that help families lower or cover the cost of their monthly premiums for their health plan. This can happen in one of two ways. You can choose to either have this credit paid in advance directly to your health insurance provider to lower or cover your premiums. You can also choose to claim all of this credit with your annual tax return.

To be eligible for this tax credit, you must:

  1. Make an annual income between 100% and 400% of the Federal Poverty Line.
  2. Not be eligible for coverage through your employer.
  3. Not be eligible for coverage through Medicare, Medicaid, CHIP, or TRICARE.
  4. Not be claimed as a dependent by any person.

Cost-Sharing Reduction

The cost-sharing reduction is a type of subsidy for families who need help paying out-of-pocket expenses when they receive health care. This can having your health insurance provider lower or cover the cost of deductibles, copayments, and coinsurance. 

To be eligible for this reduction, you must:

  1. Make an annual income between 100% and 250% of the Federal Poverty Line.
  2. At least purchase a Silver-tiered plan.

Navigating Options For Health Insurance in Iowa

HealthMarkets offers their services without charge—including no-cost quotes and rate comparisons that allow you to find the right plan for your family. Our licensed agents can help you find the right policy among over 180 insurance companies nationwide, so that Iowa residents can determine which policy meets their particular needs.

Quotes and comparisons are free with there's no obligation. Contact HealthMarkets Insurance Agency by requesting a quote online or give us a call now at (800) 827-9990.

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Sources:

PBS: http://www.pbs.org/newshour/rundown/will-you-qualify-for-an-obamacare-subsidy/
IRS: https://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/Questions-and-Answers-on-the-Premium-Tax-Credit
KFF: http://kff.org/health-costs/issue-brief/cost-sharing-subsidies-in-federal-marketplace-plans/
KFF: http://kff.org/health-reform/issue-brief/explaining-health-care-reform-questions-about-health/

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