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2021 Mississippi Health Insurance
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The year 2020 has proved to people that healthcare is essential. Not only that, but if you don’t have a major medical plan or employer-sponsored health insurance, you could be relegated to the back of the line, so to speak, when it comes to receiving quality care. Without Mississippi health insurance, you could have to foot a huge bill—and no one wants that.
So start shopping now to compare Mississippi health plans. The more you know ahead of open enrollment, the better prepared you will be for next year. Let’s start 2021 off right by enrolling in coverage that protects you and your family.
Here’s some tips to help you get started:
Types of Health Plans
There are several kinds of major medical health insurance including:
- Employer-based medical insurance
- Obamacare (ACA) health coverage for families and individuals
- Qualified Health Plans (can be purchased with subsidies)
- Government-sponsored medical coverage, such as Medicare and Medicaid
- Catastrophic insurance (mainly for people under 30 years old)
Of those six kinds, ACA-qualified coverage for individuals and families has varying formats that revolve around a network of connected doctors, specialists, and medical facilities.
The networks are:
Select a primary care provider (PCP) to coordinate your health. You will need to visit the PCP to receive referrals prior to visiting specialists. HMOs require a copay for non-preventive visits, and some have deductibles. These are best for individuals and families who want a PCP for regular medical visits.
Since 2014, PPO popularity has decreased, but there are still PPO plans available. With this, you do not need a primary care provider nor referrals, but you do pay a little more to go out of network. Otherwise, it is similar to HMO with copay and coinsurance.
Similar to PPOs, you do not need a PCP, but you must use the network exclusively. Otherwise, you risk paying for everything out of pocket, unless it was an emergency.
There are other kinds of plans, too, such as High Deductible Health Plans (HDHPs) that are connected to Health Savings Accounts (HSAs), but they are not as common as HMOs, PPOs, EPOs, and POS plans.
Why You Should Have Mississippi Medical Insurance
You have made the correct choice to start searching for 2021 health insurance quotes. By enrolling in an individual health plan or family health insurance, you will be doing your part to keep yourself protected and your family safe. But health insurance is much more than a shield against things like COVID-19 and other diseases. Healthcare is vital—and expensive.
If you don’t have it, you could be on the road to financial ruin and less than quality care.
Individual health insurance has a lot of advantages aside from reducing the overall cost of healthcare. Thanks to the Affordable Care Act (ACA), you are no longer penalized for preexisting conditions and can get access to all kinds of free or discounted services. All qualifying insurance plans come with something called essential health benefits.
The essential health benefits are included to ensure you receive well-rounded healthcare. Those benefits are:
One thing you need to keep in mind is that every health insurance policy will be different. Not every policy is going to apply these essential health benefits the same exact way. Some may include additional benefits, such as female birth control. Others will not. Also, services only considered essential to health and wellness are considered a part of the list—non-essential services, like cosmetic surgery—is not included. Neither is vision or dental insurance.
Short Term Health Insurance
Like most states, Mississippi uses the federal rules for short term health insurance. Plans may have a starting term of 364 days. With renewals, the total duration of any short term plan is 36 months (or 3 years). The Mississippi Insurance Department will approve any short term plans on the market, so you know that you are getting a regulated plan when you enroll.
Currently, there are nine insurers providing short term health insurance in Mississippi.
What You Need To Know About Mississippi Health Insurance
Mississippi is currently undergoing healthcare reform to better assist the population. Right now, Mississippi is among the states with the lowest percentage of insured adults (ages 19-64). It is also the state with the highest infant mortality rate. Hopefully, as more people seek out Mississippi medical insurance in the future, the state will improve its numbers.
In 2019, 98 percent of Mississippi’s exchange enrollees were able to receive subsidies on their health insurance premiums. This is due to Mississippi having the lowest average household income in the country. Since premium subsidies are based on a benchmark, it also means that the average increase of premium rates for 2020 and 2021 are 0 percent.
Mississippi has four metal tiers of coverage available: Bronze, Expanded Bronze, Silver, and Gold. The cheapest level is expanded bronze, followed by bronze, then silver, and lastly, gold. However, just because bronze and expanded bronze are cheaper with monthly payments, it does not mean they are better for your healthcare needs. If you have a medical condition and need regular treatments and medication, a silver or gold tier health insurance plan would be best.
The average cost of each metal tier is largely based on your age. For example, a 21 year old pays an average monthly premium of $357 for bronze, $336 for expanded bronze, $386 for silver, and $476 for gold. A 40 year old pays monthly premiums of $457 for bronze, $429 for expanded bronze, $493 for silver, and $608 for gold. Once you turn 60 years old, the rates will double. At age 60, the average monthly payment for bronze is $970, expanded bronze is $912, silver is $1,048, and gold is $1,292.
Family size will also factor into the cost of your health insurance plan. For instance, a 40 year old couple pays double what an individual would. If that couple has one child, they pay around $1,232. A family of four pays around $1,477, and a family of five has a monthly payment of $1,722.
Unemployed, Part-Time, and Self-Employed
Health insurance for unemployed Mississippi residents often falls to COBRA, depending on the industry in which you previously worked. COBRA, however, has alarmingly high rates for most individuals, making it difficult to remain insured while out of work. If you find that your unemployment benefits are not enough to cover your health insurance, then why not consider enrolling in short term health insurance?
You may also qualify for a special enrollment period if you lost your employer-based health coverage recently. Check to make sure!
On the other hand, getting health insurance for self employed workers depends on how many employees you have beside yourself. If you are an independent contractor, you are considered an individual and can start searching for individual health coverage. Part-time workers should follow the same route. Those who are young and healthy but not making a large paycheck right now may be able to apply for catastrophic health insurance or short term health insurance, as well.
Differences Between 2020 Open Enrollment and 2021
Same as last year, 2021 Mississippi open enrollment will begin on November 1, 2020 and end on December 15, 2020. Due to the recent global pandemic, some states may provide extensions on enrollment, but it has not been stated as of yet whether Mississippi will follow suit. Enrolling into a health insurance plan during this open enrollment period ensures that your medical coverage will begin on January 1, 2021.
If you missed open enrollment or recently lost health insurance or had another major life event, you may qualify for the special enrollment period.
There are not many differences from last year, either. Rates are relatively unchanged from 2018 and 2019, and the same insurance carrier—Ambetter—continues to be on the Marketplace. Molina recently joined the exchange and will be available for 2021 open enrollment. Blue Cross Blue Shield of Mississippi has a strong presence on the individual market, as do a few other companies.
If you want to get the best deal for 2021, then start gathering quotes today. You can easily compare Mississippi health plans with just your zip code.
Keep Yourself and Your Family Protected
Health insurance is essential to your health and well-being. After all, you are bound to get sick at least once in your life, and when that happens, don’t you want to know that all your medical needs are attended to? Don’t wait to get health coverage. Otherwise, it could be too late. Save yourself the stress and the extra expense and start looking for Mississippi health insurance today.