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2021 Delaware Health Insurance
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“Uncertainty” is a buzzword of 2020. With so many questions about the future circling around, you may be feeling stressed and anxious. One of the best ways to prevent illness is to have a way to receive preventative care. Delaware health insurance gives you access to all kinds of essential services that will ensure you and your family are healthy today, tomorrow, and well into the future.
After all, one thing you should not have to worry about is your well-being. Before searching for 2021 health insurance quotes, let’s go over some things you need to know before you compare Delaware health plans.
Types of Health Plans
There are five tiers of health insurance available in Delaware: Catastrophic, Bronze, Expanded Bronze, Silver, and Gold. The coverage provided by catastrophic medical insurance is minimum, but it is also cheap. Bronze tier is ideal for those who are young, healthy, and generally have few medical problems. Silver tier is great for an average 40 year old. If you are someone with an expensive medical condition, then gold is perfect for you.
Aside from the metal tiers, there are different types of health coverage to consider:
With an HMO policy, you must use the medical professionals within the network. Upon selecting a primary care physician (PCP), you will then be able to visit specialists with a referral given to you by the PCP. The networks are usually wide, so you have a selection of doctors to choose from.
A PPO plan has flexibility, because you do not have to choose a doctor or specialist within the network. However, if you want to pay less for care, choose someone in the network. You don’t need a primary care physician or referrals for specialists.
EPOs are usually available in areas where there is only one insurance provider present. Although you have to choose doctors, hospitals, and specialists within the network, these are very affordable options. Think of it as a slightly more restrictive HMO.
Why You Should Have Delaware Medical Insurance
The average cost of a single inpatient day in Delaware is around $2,800. Imagine not having health insurance to cover the cost of a surgery and those inpatient days. You don’t want that kind of stress, especially when your health is vital. Health insurance is a necessity these days. Whenever you get sick or injured or have a medical emergency, health insurance can cover all or a percentage of those medical bills to keep you from having more to worry about.
The Affordable Care Act (ACA) has changed major medical plans. Now, they need to have essential benefits to qualify for the marketplace. The essential benefits are:
Keep in mind that there are some things that Delaware medical insurance does not cover, such as cosmetic surgery, adult vision and dental care, male birth control, and travel vaccines. In other words, unless a treatment is considered essential to your health and well-being, an insurance provider is able to deny or limit coverage.
Short Term Health Insurance
Missed open enrollment? Unable to use the special enrollment period? Beyond the federal Marketplace, you might be able to secure short term health insurance in Delaware. While short term policies do not have the same protections and essential benefits as an ACA plan and you may be turned down for preexisting conditions, short term health insurance can help you stay covered for an affordable price.
Delaware state has a special rule regarding short term medical insurance. The policy cannot remain in effect for more than 3 months, and it cannot be renewed once the policy expires. Because of that, only consider short term health insurance during emergencies or other similar circumstances.
What You Need To Know About Delaware Health Insurance
First and foremost, every Delaware resident is required to have a major medical plan, but there are no penalties in failing to enroll. Delaware supports the Affordable Care Act (ACA) and has a number of laws in accordance with the ACA to protect the consumer. Those searching for individual health insurance in Delaware have a couple of options. You can use private insurers or go through the Marketplace. However, at the present, there is only a single insurance company offering policies through the exchange.
Now, what is the average monthly payment for individual or family health insurance? The price depends on your age, gender, location, and—if aiming for subsidies—your income. For instance, a 21 year old will pay around $236 a month for catastrophic insurance while a 40 year old will pay $302. For bronze, a 21 year old pays $291 a month, and a 40 year old pays $372. Silver is $418 for a 21 year old, $535 for a 40 year old, and $1,135 per month for a 60 year old. Lastly, gold level is $527/month for a 21 year old, $674/month for a 40 year old, and $1,431/month of a 60 year old.
While bronze and catastrophic are the cheapest plans available in Delaware, there is one caveat. The reason these plans are so affordable at first glance is because they have large out-of-pocket maximum and deductibles. This means that you could end up paying more for medical services than you would with a higher amount of coverage. Only enroll into bronze or catastrophic level policies if you are young and very healthy.
For families, the average monthly cost of health insurance depends on the number of people. For instance, a single parent and their child costs around $855 per month. A family of three pays $1,069 a month, and a family of five would pay around $2,029 a month.
Here is some welcome news: rates are lower in Delaware. In 2020, the premiums for all metal tiers fell dramatically. In 2018, the premium for a catastrophic policy was $423. In 2020, it’s $302—nearly a 30 percent drop! Bronze premiums were $475 in 2018 but dropped 21.74 percent, making it $372 in 2020. Silver premiums dropped around 25 percent since 2018, and gold level policies dropped around 24 percent. It is predicted that these rate drops will continue through 2021 and beyond.
Unemployed, Part-Time, and Self-Employed
In these uncertain times, more and more people are getting laid-off and are seeking health insurance for unemployed individuals. Delaware has COBRA programs, but these are not the most affordable, especially when your unemployment check has yet to come in the mail. If you are actively looking for work, you may be able to enroll in short term health insurance. However, there are cheaper options, such as catastrophic tier health insurance.
Part-time employees and self-employed contractors also have certain hurdles when shopping for health insurance. Since neither group can get employer-sponsored plans, they are often forced to search for health insurance for self employed individuals to cover their healthcare needs. As an independent contractor or entrepreneur, you may be eligible for discounts on health insurance. Ask a representative of the insurance company you are interested in to learn more.
Differences Between 2020 Open Enrollment and 2021
Although 2020 open enrollment has ended, you may be able to use a special enrollment period if you have experienced a qualifying life event, such as losing your job, changing residence, or having a baby. If you do not qualify, 2021 Delaware open enrollment begins November 1, 2020 and is open until December 15, 2020. If you enroll during this period, your coverage will begin January 1, 2021.
Last year, 23,961 Delaware residents used private individual market plans through the exchange to find coverage for 2020. As mentioned earlier, there is only one insurer using the Marketplace—Highmark. The premiums dropped 19 percent due to Delaware’s new reinsurance program. Hopefully, that decrease will carry on through 2021.
Just because open enrollment for 2021 has yet to begin, it doesn’t mean you can’t begin searching for the best rates now. You can find amazing deals when comparing different policies. All you need is your zip code to begin!
Keep Yourself and Your Family Protected
Having your healthcare covered is going to take a load off your shoulders. You don’t have to live without it. The best way to select the best major medical plan is to know your options and compare Delaware health plans. Also, by knowing more about what policies are available and which companies are available in your area, you will navigate the marketplace or private insurers with much more ease.
Looking for a broad selection of Delaware individual health plans or family plans? AffordableHealthPlansUSA.com delivers quotes from the medical leading insurance companies in Delaware, so you can get the best price.