Every Idaho insurance carrier has lost, and continues to lose, millions of dollars in the individual health insurance market. These losses translate into much higher premium increases for Idahoans, higher out-of-pocket costs, reduced availability of health plans, and narrower provider networks. The individual insurance market simply is not sustainable as it now stands, and, if left unchanged, may force carriers out of our market.
The proposed replacement, the American Health Care Act, does not change the federal requirement that health insurance plans must cover pre-existing health conditions for everyone enrolled in the plan. Carriers cannot deny enrollment due to pre-existing conditions. All plans would continue to be guaranteed issue and guaranteed renewable.
While the future cannot be predicted with certainty, the likelihood is that health insurance premium amounts charged by insurance carriers would decrease if the Affordable Care Act is repealed and replaced. Prior to the Affordable Care Act, Idaho had some of the least expensive health insurance plans in the U.S., and, after a repeal, should once again have lower-cost plans. The proposed replacement plan includes tax credits that increase with age to help with paying premiums; however lowering the overall premiums charged is of paramount importance.
Idaho insurance law requires that newborn children, regardless of health condition, must be placed on their biological or adoptive parents’ health insurance from the moment of birth. Any and all health conditions experienced by the newborn must be covered.
Do you have a question about Health Insurance?
Submit your questions – our experts will respond with the facts.