Health insurance in California is not cheap, but it’s definitely worth it. The right plan will protect you from expensive medical bills. This is especially important in California because rates have been rising for the last decade. Covered CA, a health insurance tax credit, allows consumers to buy health insurance for as low as $49 a month. Moreover, you won’t have to pay premiums for a year if you use the program.
The average cost of health insurance in California is $537 per month for a 40-year-old who purchases a Silver plan. Cheap health insurance is available in California through the state insurance exchange and through Medicaid if you’re earning less than 138% of the federal poverty level. The most affordable Silver plans are the Silver 70 HMO and the Silver 80 EPO. The lowest rate providers are Molina Healthcare and L.A. Care. These companies offer a limited number of plans, so be sure to do some comparison shopping and find a provider that suits your needs.
If you’re currently paying high premiums for your insurance, you can take advantage of new federal tax credits. These credits are available to people who enroll in health plans through Covered California. These new federal dollars are estimated to cost $3 billion. However, Covered California officials believe that the state can get more money than that, so they’re spending $20 million on an advertising blitz. Their goal is to sign up 810,000 uninsured residents.
Silver health plans are the middle-of-the-road policies in the health insurance marketplace. These plans cover seventy to ninety percent of medical costs. The California state insurance exchange has standardized names for these plans, such as “Silver 70.” These plans are best for those who are healthy and want to save money every month. If you have a high income, you may want to consider a Gold plan.
If you are looking for a cheap health insurance plan in California, it’s important to know which type of plan will work best for your needs. For example, a Silver 70 HMO policy will cover seventy percent of medical expenses. A Silver plan will cost you $537 per month, and you can get a discount by proving your income. If you’re healthy and do not expect to need frequent medical services, the lowest-cost silver plan is a Bronze plan.
The average cost of health insurance in California is $537 per month for a forty-year-old buying a Silver plan. If you’re on a budget, you can purchase an affordable plan through the state insurance exchange. If your income is below 138% of the federal poverty level, you can qualify for Medicaid. A Silver plan may be the best choice for you if you’re healthy. If you’re not, you may need to choose a Gold plan.