Health Insurance Quotes in El Paso
El Paso is the sixth largest city in Texas and in 2015, there was an 8.7% increase in the number of people with health insurance compared to 2014.
Back in 2013, about 28.4% of the population was uninsured and although the number has gone down to 22.8% or 184,200 individuals, it’s still quite high compared to the national average, which is 10.4%.
Why You Need Health Insurance in El Paso?
The Affordable Care Act requires you to have health insurance and you will have to pay a penalty if you don’t have one, unless you qualify for an exemption. When you file your taxes, you need to report whether you have coverage.
The 2016 open enrollment ended on January 31, 2016 and the 2017 open enrollment will begin on November 1, 2016. You can’t obtain health insurance until then unless you qualify for a special enrollment period. However you can always obtain a health insurance quote in El Paso before the open enrollment period begins again.
The Obamacare penalty is not the only thing you should worry about. Without health insurance, you are putting your health and finances in jeopardy. Even a minor surgery or a few days stay in a hospital could cost you a big sum of money, and many people who have no health coverage go bankrupt trying to pay off their debts. Moreover, those without a health plan also often delay seeking treatment, which could lead to dire consequences.
How Much Does Health Insurance Cost?
The cost of health insurance in El Paso depends on five things: your level of coverage, if you are eligible for a subsidy, where you live, your age, and your tobacco use. Obtaining a health insurance quote in El Paso is wise, as it will indicate what level of coverage is right for you.
There are four levels of coverage:
- Platinum – Insurer pays 90%, you pay 10% on average
- Gold – Insurer pays 80%, you pay 20% on average
- Silver – Insurer pays 70%, you pay 30% on average
- Bronze – Insurer pays 60%, you pay 40% on average
The cheapest option would be the Bronze Level however if you require health services, you will pay the highest out of pocket costs. Platinum plans are the most expensive plans, but any additional expenses will be much lower compared to the rest.
The essential benefits are the same for all plans and your chosen category does not have an impact on the quality of care you will get.
Another option is to opt for a catastrophic plan. This is available to individuals under the age of 30, and the plans under this category are cheaper than the bronze plans. However, you will shoulder all medical costs up to a certain amount. After that, your insurance benefits kick in.
Under Obamacare, you may be eligible for a subsidy depending on your income. You can reduce the cost of your health insurance through tax credits, which are applied directly to your monthly premiums. Out of pocket costs may also be lowered if you meet eligibility requirements. Find out if you’re eligible by obtaining a health insurance quote in El Paso as soon as possible. Finally, low income families and individuals may qualify for free health care coverage through Medicaid or the CHIP.
As of March 2016, about 84% of those who enrolled in the Texas exchange received premium tax credits while close to 60% received cost-sharing reductions.
Where you live in Texas, as well as your age could also affect the cost of your monthly premiums. And finally, if you smoke, you may have to pay significantly higher premiums compared to those who don’t. The ACA allows insurers to charge tobacco users up to 50% more on premiums, although the average increase is 20%.
Buying Health Insurance in El Paso
The Texas Health Insurance Exchange is federally operated and residents can visit HealthCare.gov to find a health coverage plan or to get a health insurance quote in El Paso. For 2017, there are 14 carriers who will sell insurance plans in the state: Allegian, Blue Cross Blue Shield of Texas, Celtic (Ambetter), Cigna, CHRISTUS Health, Humana, FirstCare, Community First, Community Health Choice, IdealCare, Molina, Insurance Company of Scott&White, Prominence Health First and Oscar.
Insurance companies can also offer coverage outside the exchange however, normally, when the open enrollment period closes, so does enrollment in the individual market. Those looking to enroll in a health plan outisde the OEP will need to have a qualifying life event before they can enroll in a coverage plan.
If you don’t have insurance sponsored by your employer, your options are the exchange or the individual marketplace. All health insurance providers whether in the exchange or off the exchange are mandated to provide all the essential benefits required by Obamacare. The key here is to find a health plan that fits your health care needs and budget.
To find affordable health coverage, please check our health insurance quotes in El Paso today.
elpasohealthinsurancequotes.com is not a licensed health insurance carrier, and we are unable to directly issue health insurance policies, or alter existing policies. If you wish to inquire about your current plan, please contact your health insurance provider for more information.