Health Insurance in New Hampshire: How to choose your coverage?

By: Shawnda
Updated: September 2, 2022
Health Insurance in New Hampshire

There are various options available if you’re seeking affordable health insurance in New Hampshire. Employer-provided insurance, individual or family plans purchased through Healthcare.gov’s New Hampshire Health Insurance Marketplace, off-exchange insurance, Medicaid, Medicare, and temporary insurance are some of the choices available.

Each of these choices, prospective expenses (if any), and instructions on how to sign up for, join, or buy a cheap health insurance plan in New Hampshire are present in this guide.

 

What should residents know about Health insurance in New Hampshire?

Marketplace plans: Individuals and families interested in obtaining Affordable Care Act (ACA) health insurance policies can use Healthcare.gov’s New Hampshire Health Insurance Marketplace. A broker, insurance agent, or insurance provider are other options for where you can get health insurance. New Hampshire also offers cost-sharing plans and temporary insurance.

Open enrollment runs from November 1st, 2022, through January 15th, 2023, and 2023. If you don’t register within this time, you must have a qualifying event to enroll. The following life events qualify marriage, divorce, childbirth or adoption, citizenship or permanent residency in the United States, and relocation to New Hampshire.

Health Insurance Marketplace: New Hampshire provides ACA coverage through the federal government’s Healthcare.gov portal. These plans all provide access to cost-effective, high-quality medical care. Additionally, several plans provide unique tax breaks and savings.

Off-market plans: You can purchase plans outside the federal Health Insurance Marketplace if you don’t want to use them. However, all ACA-compliant health insurance plans must cover pre-existing diseases, mental health treatment, and other fundamental benefits. Off-exchange plans are available through brokers, insurance agents, or directly from health insurance providers.

Most New Hampshire residents (just over 56 percent) have employer-provided health insurance. Medicaid comes in second with a 17.7 percent share, followed by Medicare with a 13.2 percent share. 5.3 percent of people in the state are covered by non-group insurance plans, while the military covers 1.2 percent. Currently, 6.4% of New Hampshire residents lack health insurance.

 

How can I sign up for the health insurance exchange in New Hampshire?

The federal Healthcare.gov portal is used by the Health Insurance Marketplace in New Hampshire to sign up residents for ACA insurance.

You should create an account as your initial step. You’ll have to provide personal information like your address, the number of people in your home, their ages, your income, and other details.

After you provide this data, Healthcare.gov will be able to match you with insurance plans for which you qualify or determine whether you are eligible for Medicaid or Medicare. You can compare multiple plans to pick one that offers your family the best health coverage and fits your budget.

On Healthcare.gov’s New Hampshire page, three firms offer plans:

  • Ambetter
  • Blue Cross and Blue Shield of Anthem
  • Cambridge Pilgrim

 

How can I sign up for individual and family insurance in New Hampshire?

Before investing in a health insurance plan, you must ascertain your or your family’s medical demands. You can use this to locate the most economical health insurance option.

 

Individual insurance in New Hampshire

Your state of health will play a significant role in the insurance plan you choose for yourself. You might do better with an inexpensive health insurance plan with a low monthly cost and larger deductibles if you’re a healthy person with few health worries. When you need medical services, these deductibles only become applicable, so if you’re in good health, a plan like this can keep your monthly medical expenses to a minimum.

Consider a plan with a higher monthly premium but lower deductibles if your health condition necessitates frequent medical treatment or a lot of prescription medication. This will assist with lowering your overall out-of-pocket costs.

 

Types of plans from which to select

Health Maintenance Organization (HMO) plans are among the most affordable options. There are additional restrictions, one reason some plans are less expensive. Before consulting a specialist, you can only use the plan’s in-network medical providers, choose a primary care physician, and seek suggestions. You can also check epo vs hmo to get your thoughts clear about plans and make the selection process easy.

More expensive are Preferred Provider Organization (PPO) plans. But for that high price, there won’t be as many limitations. You aren’t constrained to use only in-network medical professionals. You do not have to choose a primary care doctor or ask for a referral to see a specialist.

Plans for points of service (POS) let you engage with non-network providers. But you’ll still need a reference if you want to see a specialist.

 

Family health insurance in New Hampshire

You must weigh the many members of your family’s health needs against your financial capacity while looking for an insurance plan to cover everyone. For instance, you can suffer from a persistent medical condition like high blood pressure or hypertension. Your children might be in good health, or one of them might struggle with asthma or a mental illness. These diseases may significantly alter your requirement for health insurance and the type of plan you should consider.

An HMO plan can be something to think about if your family as a whole is healthy. If you and your family are happy with the necessary restrictions, these plans provide reduced pricing. A PPO or POS plan may provide the necessary coverage if you, your spouse, or any of your children have a chronic health condition requiring regular doctor visits or specialists.

 

What is the cost of health insurance in New Hampshire?

Silver, Bronze, Gold, and Platinum are the metal tiers Healthcare.gov uses to categorize its plans. If you choose a Silver plan over a Gold or a Platinum plan, your level of coverage won’t be diminished. Affordable health insurance in New Hampshire is available with every plan offered on Healthcare.gov. The cost-sharing arrangement between you and your insurer determines the metal tiers’ differences.

Bronze plans feature coinsurance costs of 40% but average monthly premiums and significant deductibles. Healthy individuals who don’t need extensive medical attention but want access to affordable health insurance coverage in case they get sick or hurt can fare best with bronze plans. In New Hampshire, the least expensive bronze plan has a monthly cost of $264.

Although silver plans cost more than bronze policies, they feature lower deductibles and a coinsurance payment of only 30%. Silver plans are appealing because they provide the highest tax credits and benefits, including CSRs. If your family qualifies, you can frequently pay less for a silver plan than a bronze plan. Before taking into account any tax credits or other perks, the least expensive silver plan in New Hampshire is $305 per month.

Gold and platinum health plans are intended for those with ongoing medical conditions. The lowest deductibles and coinsurance rates are on the gold and platinum plans, which are 20 percent and 10 percent, respectively. This makes it, so you do not have to pay as much out of your own money. A gold or platinum plan costs more since the monthly premiums are more expensive. The least expensive gold plan in New Hampshire is $354 per month.

Health Insurance in New Hampshire

In New Hampshire, is health insurance affordable?

In New Hampshire, low-income persons were given access to Medicare in 2014, and the Granite Advantage Health Care Program came into being in 2019. For adults covered by the Medicaid expansion, the state no longer purchases individual policies via the Health Insurance Marketplace. Instead, the Granite Advantage Health Care Program has them as members.

309,951 people in the state were covered by Medicaid and CHIP (the Children’s Health Insurance Program) as of January 2021. There has been a net gain of 143.9 percent since the Open Enrollment period in October 2013.

 

Medicaid In New Hampshire

To qualify for Medicaid in New Hampshire, you must be a state resident, a US. citizen, national, permanent resident, or legal alien, in need of medical help or insurance, and have a low or very low income. Also, you must belong to one of the following groups:

  • Pregnant
  • Blind
  • Be in charge of a child (or children) under 18 years old.
  • You are disabled, or a member of your household is disabled.
  • Age of at least 65 years.

In order to be eligible for Medicaid under the Granite Advantage Healthcare Program, a family’s income must be at 133 percent or below the federal poverty line.

The income and resource eligibility requirements for Medicaid and the Granite Advantage Health Care Program differ based on the type of individuals and families eligible for coverage. Those who qualify for Medicaid on the basis of their medical needs, for instance, are subject to resource restrictions of $2,500 for an individual, $4,000 for a couple, and $100 for each additional family member. This sum excludes the value of your home, your appliances, and one vehicle.

 

Children’s Health Insurance Program of New Hampshire (CHIP)

Children and teenagers under the age of 19 who don’t have insurance and whose families do not qualify for Medicaid but meet the income requirements for CHIP can receive health insurance through this program. Hospitalizations, doctor visits, mental health care, vaccines, vision treatment, and dental care are among the medical and dental services offered.

 

What are Medicare choices available to seniors and individuals with disabilities in New Hampshire?

Medicare is a government or federal health insurance program for individuals aged 65 and over and younger individuals with certain disabilities.

The fundamental type of Medicare is called Original Medicare. It has Part A, and Part B. Part A covers hospital stays, home health care, hospice care, and skilled nursing care. Part B covers everything else (medical services, durable health equipment, ambulance services). Depending on how much you’ve already paid in Medicare taxes, Part A may cost as much as $473 a month, while Part B always carries a monthly premium of $170.10. You will require a Medicare Part D plan, a Medicare prescription drug coverage, as Original Medicare does not cover prescription medicines. There are no out-of-pocket limits for deductibles, copays, or coinsurance under Original Medicare.

An alternative to Original Medicare, commonly known as Part C, is a Medicare Advantage Plan. These private health insurance plans in nh provide dental, vision, and hearing coverage approved by Medicare. Many Medicare Advantage Plans might also offer prescription medicine coverage and gym memberships. Medicare Advantage Plans come in four flavors:

  • HMO
  • PPO
  • Private Fee-For-Service
  • Special Needs

Plans for Medicare Supplement Insurance are available to aid in covering out-of-pocket costs that are with Original Medicare. These policies will not cover long-term care, vision, dental, or hearing treatment costs. However, a Medicare Supplement Insurance Plan may be able to offer your health coverage if you’re going abroad. A Medicare Advantage Plan is incompatible with a Medicare Supplement Insurance Plan.

 

Eligibility

To qualify for Medicare, you must be 65 years old or have a qualifying impairment. Your disability must endure for at least 24 months in order to qualify for benefits from the Railroad Retirement Board or the Social Security Disability Insurance program. If you have Lou Gehrig’s illness or end-stage renal failure, you might be able to qualify more quickly.

 

Enrollment

If you start getting money from Social Security or the Railroad Retirement Board at least four months before you turn 65, Medicare will sign you up automatically. Otherwise, you must submit an online application or contact your neighborhood Social Security office. Medicare enrollment is available during the following times:

Initial enrollment: You have three months before turning 65 and three months following that age to enroll. During this time, you can enroll if you have never had Medicare. You could alter your plan even if you enrolled in Medicare when you were younger.

General enrollment: Select this enrollment window if you missed the first one. January 1 through March 31 is the general enrollment period for Medicare. You can select Part D, Medigap, Medicare Advantage, or Original Medicare.

Medicare Advantage Open Enrollment: From January 1 to March 31, you can make changes to your Medicare Part C, generally known as Medicare Advantage.

During open enrollment, which runs from October 15 to December 7, you can enroll, change plans, or cancel your coverage.

Special enrollment periods: You may be eligible for a special enrollment period if you lose coverage or your eligibility status changes outside of the usual enrollment periods.

 

Resources for Medicare

The New Hampshire State Health Insurance Assistance Program (also called SHIP) helps people with Medicare, their families, or their caregivers find alternatives to Medicare in New Hampshire. This help is free, unbiased, and private. Information on Original Medicare, Medicare Advantage Plans, Medicare Part D, and other facets of Medicare are provided. These advisers with licenses won’t ever try to sell you a plan and can assist you with other health insurance-related inquiries.

 

Are there options for temporary health insurance in New Hampshire?

Yes, short-term policies can provide affordable health insurance, but these contracts have a six-month expiration date and cannot extend. If a short-term plan has covered a New Hampshire resident for more than 540 days in the previous 24 months, they are likewise ineligible to purchase one. After the initial short-term plan expires, you can apply for a new one, but it has to be a specific plan with new out-of-pocket costs.

Short-term policies do not cover pre-existing diseases and mental health treatment. These plans are for those who do not have any employment, people who require coverage until a new insurance option becomes available, who didn’t avail of Healthcare.gov’s Open Enrollment period or only need health insurance for a bit of time.

 

FAQs on Health Insurance in New Hampshire

Is health insurance required in New Hampshire?

The tax penalty associated with not having health insurance under the initial provisions of the Affordable Care Act (ACA) no longer applies. New Hampshire state does not mandate health insurance.

 

Do I have to utilize the New Hampshire Health Insurance Marketplace?

No, a broker, an insurance agent, or a health insurance provider are also options for buying off-exchange health insurance in New Hampshire.

 

Which different kinds of alternatives are there for health insurance in New Hampshire?

A faith-based plan is the most typical cost-sharing arrangement in New Hampshire. These plans’ participants split the cost of their medical care. If you wish to participate in a plan, you don’t have to be a member of any particular religious organization or denomination. These programs are not insurance and are exempt from ACA requirements. Plans can be affordable but sometimes do not cover pre-existing diseases or other crucial aspects of healthcare.

 

If I have an HSA or FSA, do I still need health insurance in New Hampshire?

Yes. It is nearly hard to accumulate enough funds through an HSA/FSA plan to cover medical expenses following a significant sickness or injury. Instead, these plans should cover deductibles, coinsurance costs, copays, and dental or eye care.

 

Do I still need short-term disability coverage if I have health insurance in New Hampshire?

However, it also depends on your employment. Even though you might not require it, having it is smart if your line of work has a high risk of an accident. The short-term disability insurance covers your mortgage, groceries, and other living costs. Health insurance does not provide coverage for these costs.

 

Do I still need long-term disability coverage if I have health insurance in New Hampshire?

Long-term disability insurance is a smart option if you have a dangerous job. It would help if you also had health insurance, though. Disability insurance covers living expenditures that health insurance does not cover.

 

Visit our website NewHealthInsurance to learn more.

 

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