Health Insurance in Illinois: Know Your Options

Health Insurance in Illinois
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Do you have insurance for your health? If you don’t, you might be putting your physical and financial health at risk. The number of uninsured people in the United States grows each year substantially. The ACA Health Insurance Marketplace offers a number of options, so you don’t need workplace coverage. You can also use a private insurance agency or sign up for a government-sponsored program. We have compiled a comprehensive guide to health insurance in Illinois to assist you in obtaining the necessary coverage.

Health Insurance in Illinois: What You Need to Know

  • For marketplace plan options, many Illinois residents have employer-sponsored health insurance. You can get a health insurance plan if your job doesn’t offer insurance, if the coverage is too expensive, or if it doesn’t cover other people in your family. Moreover, you can also buy individual health insurance if you work for yourself and don’t qualify for a group health plan.
  • During the open enrollment time, you can sign up for a health insurance plan for yourself or your family. From November 1, 2022, until January 15, 2023, Illinois residents can apply for health insurance coverage for the next year’s plan year.
  • The term “Special Enrollment” refers to a time period outside of Open Enrollment when you can apply for health insurance coverage. Some life events, such as changing zip codes, leaving your job, getting married, or having children, may make you eligible for special enrollment. Furthermore, you have 60 days from the event date to change your plan.
  • All of Illinois and 35 other states are enrolled in Obamacare’s Health Insurance Marketplace through this federal program. Visit HealthCare.gov if you want to buy a plan via the exchange. Using this website, you may see all of the different plans and estimate your out-of-pocket costs.
  • If you do not qualify for a tax credit or do not wish to take the tax credit, you do not have to purchase a health plan through the Health Insurance Marketplace. Also, you can get insurance straight from a firm that provides it.
  • As for types of coverage, employer-sponsored health insurance is available to 55% of Illinois citizens; only 7.3% are uninsured. A total of 5.2 percent of the population has non-group coverage, 0.7 percent of the population has military coverage, Medicare covers 14.1%, and Medicaid covers 18.2%.

health insurance in illinois

Health Insurance Marketplace in Illinois

When looking for health insurance, the Marketplace provides an alternative method for comparing plans, providers, and premiums to discover the best fit. You can examine all of your options and enroll in one application. The term “Health Insurance Exchange” can refer to both the Health Insurance Marketplace and the Health Insurance Exchange.

Research & Enrollment 

  • Apply for lower private insurance premiums through the Health Insurance Marketplace. You may also qualify for lesser out of pocket expenses.
  • The Marketplace will inform you if you qualify for Medicaid or CHIP, which offer free or low-cost coverage (CHIP).
  • You should consider insurance premiums and the plan’s deductible when budgeting for health care costs. (The amount you should pay before your mental/medical health insurance benefits kick in) and how much of the costs you are responsible for, such as co-insurance or co-pays. Then you’ll know your annual liabilities.

Sign Up for a Marketplace Account.

A Navigator or other certified assistance can assist you in applying for Marketplace coverage in person, by mail, or online. During open enrollment, you can get assistance with your application by calling or chatting with a representative online or over the phone.

Learn More About the Illinois Marketplace.

  • The Marketplace in Illinois is overseen by the federal government, even though private companies supply all insurance plans. Healthcare.gov is the site in Illinois where you may apply for coverage and compare plans before signing up.
  • Price and benefits information is written in plain language in the Marketplace. Before signing up, you’ll know exactly how much you’ll pay in premiums and what benefits and safeguards you’ll receive.
  • Using the Marketplace, you can compare all of the health insurance alternatives in your area in one convenient location. With this information, you’ll be able to make an informed decision about which plan is best for your needs.
  • You can also receive assistance online, over the phone, via chat, and in person. You can reach us at 877-938-0075 at any time of day or night.

Illinois Health Insurance Plans

As the number of health insurance carriers varies by county in Illinois, the best Illinois health insurance plans will depend on your region and desired level of coverage. Health insurance plans with higher metal tiers such as Gold coverage offer higher monthly premiums but reduced out-of-pocket expenditures such as deductibles, copayments, and co-insurance.

Because of this, a higher metal tier plan may be the best option if you have a lot of medicines or worry about unforeseen medical bills. A lower metal plan may be the most cost-effective if you have a significant emergency savings fund to pay cost-sharing but no predicted medical expenses and want to keep your monthly rates low.

Gold plans are optimal if you expect high medical expenses.

Gold health insurance plans feature the lowest variable costs for medical care, such as deductibles and copayments that you must pay before your policy pays for charges. However, monthly costs for Gold plans are the most expensive. Therefore, these health plans are ideal if you have high anticipated medical costs, such as recurring prescriptions, or if you are concerned about your ability to pay for an unforeseen condition out of pocket. Also, Illinois’ most affordable Gold plan is $464 per month.

The cheapest health insurance in Illinois is the Ambetter Secure Care 5 under the Gold plan.

Silver plans are best for families with low incomes or average medical costs.

Between Bronze and Gold plans, Silver health insurance is suitable for those looking for a midway ground between the two. If, for example, you cannot afford the higher premiums of a Gold plan but cannot afford the higher deductible and copayments of a Bronze plan in Illinois, you may be better off with a Silver plan. In Illinois, the least expensive Silver plan is $413 a month.

As part of the Affordable Care Act’s coverage expansion, Illinois has made Medicaid available to low-income residents (ACA). All in all, silver plans may be the most cost-effective health insurance option if you make too much for Medicaid.

The cheapest health insurance in Illinois is the Ambetter Balanced Care 12 under the silver plan.

Bronze and Catastrophic plans are best if you are healthy and have money set aside in case of an emergency.

These plans’ monthly health insurance premiums are low, but the cost-sharing is much higher. So if you require medical care during the year, you’ll pay extra out of pocket.

To qualify for a catastrophic health plan, a person must be under the age of 30 or be exempt from specific conditions. A premium tax credit also can’t be used to lower the cost of a catastrophic plan. On the other hand, anyone can get a bronze plan, and tax credits can be used to pay for it. In Illinois, the least expensive Bronze plan costs $331 per month.

The cheapest health insurance in Illinois is the WellFirst Bronze Value under the Bronze plan.

health insurance in illinois

How Much Does Health Insurance Cost in Illinois?

Wondering how much is health insurance Illinois? Let’s have a look at it.

It costs an average of $589 per person to have the most comprehensive individual medical insurance in Illinois. Moreover, you should know that good health can lower your premiums.

METAL LEVEL AVERAGE MONTHLY PREMIUM
Bronze $331
Silver $413
Gold $464

NewHealthInsurance has an average price for medical insurance in Illinois. However, rates vary based on zip code, age, gender, and more.

Get customized health insurance quotes Illinois to see what options you may have.

Best Cheap Health Insurance Illinois by Cities

Finding affordable health insurance in Illinois might be difficult. When it comes to finding the right plan, where you live also makes a big difference. Let’s have a look at some cities that have low cost health insurance Illinois:

  • Chicago
  • Aurora
  • Naperville
  • Joliet,
  • Rockford

Most people can get affordable health insurance in Illinois through the Health Alliance POS 3000 Elite Silver Plan. Moreover, it has premiums as low as $1,420 for a 40-year-old couple with a child, $1,093 for a 40-year-old couple, and $546 for a single 40-year-old. It is the low cost health insurance Illinois plan in 73% of the state’s cities. Other than Illinois you can also check cheap health insurance in Georgia here.

Affordable Health Insurance IL Plan: How to Find?

The best affordable health insurance IL (Illinois) for you depends on how much money you make and what kind of medical care you need. Your overall prices will be more influenced by the type of plan you select than by the provider you choose.

Those looking for a low-cost health insurance plan and not covered by their employer should consider a Bronze plan. Prescription medications, mental health therapies, and other preventative care are all included in the low premium rates. Moreover, with after-tax credits and other discounts offered by the American Rescue Plan, about 80% of people who want health insurance can find a Bronze plan for $10 per month.

Additionally, upgrade to a Silver plan if you need moderate levels of medical treatment or if you’d like a little additional coverage. To save money on health care, you’ll have to pay extra for these plans each month.

Medicaid is the most cost-effective choice for low-income people. In many places, you can qualify as an individual earning less than $17,774 or a family of four earning less than $36,570, depending on your state’s income guidelines.

It is also possible to get a short-term health insurance plan, which can give temporary coverage at a lower cost. Generally, however, there are no restrictions or limitations on the coverage provided by plans. We have long-term health insurance guide for you if you want to opt in for a long-term insurance.

Medicare Plans in Illinois

Medicare offers a wide range of options to people at least 65 years old, U.S. citizens or permanent residents, and living in Illinois. You are eligible if you have ALS, ESRD, or have been disabled for at least 24 months and get SSDI.

Original Medicare: In Original Medicare

  • Part A covers hospitalization
  • Part B covers medical/outpatient
  • When sick, you go to the doctor or hospital. You don’t need Medicare or your PCP’s consent.
  • Part B premiums are due monthly. Some pay Part A premiums.
  • Each service costs coinsurance.
  • Doctors and hospitals can’t overcharge for care.

Medicare Part D: Part D of Medicare is coverage for prescription drugs that you can add to Original Medicare or Medicare Advantage. Private insurance companies sell plans, but Medicare controls how they work.

Medigap: Private insurance companies sell standard plans called Medigap. These Medigap plans assist pay for charges not covered by Original Medicare.

Medicare Advantage (Part C or M.A.): Private insurers provide these plans as an alternative to Original Medicare. Many plans cover prescriptions and may also cover gym memberships, dental, vision, hearing, and transportation to medical appointments. This gives you more coverage than Original Medicare.

Short Term Health Insurance Illinois

Illinois short term coverage can be acquired from insurance companies other than the state’s health insurance exchange. The state limits short-term health insurance policies to six months and doesn’t allow them to be renewed. Also, from the same insurance carrier, you can’t acquire a new short term plan within 60 days.

It is essential to know that short-term health insurance plans usually don’t cover the same benefits as ACA marketplace health policies. This could mean that the basic benefits and conditions that were already there would not be covered. Here, you can find health insurance quotes Illinois for your area.

Health Insurance in Illinois

Private Health Insurance in Illinois

In Illinois, private insurance companies can no longer deny you an individual health insurance policy because of your health. The Affordable Care Act may help pay for your health insurance. The subsidy may reduce your monthly payment or be claimed as a tax credit. To earn a subsidy, choose a federally and Illinois-approved health plan. Moreover, On-Exchange Plans cover people with pre-existing conditions and meet regulations to eliminate benefit loopholes.

Health Exchange and private health insurance plans in Illinois’ private Marketplace are options if you do not qualify for a subsidy. These private insurance plans were rated from 1 to 5, with 5-star plans being the most comprehensive. In what ways are private health insurance plans different from government-approved plans? Usually, the price is the trade-off. Insurers can charge less for private plans that have fewer benefits or a smaller network of providers, making them more reasonable options for you to choose from. Other than this state we also have reviewed the best health insurance companies for you to check out.

Let’s have a look at individual health insurance Illinois 2022.

Illinois Health Insurance: Family and Individual Coverage

A new private health insurance Illinois plan may be perfect for you if you are self-employed; or if your company doesn’t provide a group plan. Moreover, suppose your group plan doesn’t cover spouses or dependents. If your premiums are too costly or your benefits needs have changed, a new private health insurance Illinois plan is the best suitable option.

Individual and Family Health Insurance in Illinois

Depending on the health insurance carrier, the youngest member on the coverage can affect Illinois couple’s health insurance premiums. Some couples with a big age gap may save money by signing up for the same plan instead of two separate ones. Also, if a couple is only a few years apart in age, they might be able to save money by getting separate health insurance plans. If you and your partner purchase health insurance together, ensure you both need the benefits.

Get the Best Health Insurance Plan for You!

Health insurance is hard to find. Before enrolling in a plan or selecting a plan provider, you must create an account on Healthcare.gov. A waiver of insurance premiums may be available to you, and you can research all of your plan options on the company’s website.

Reach out today at NewHealthInsurance and get free health insurance quotes Illinois. 

Get A Free Affordable Health Insurance Quote