Louisiana Individual & Family Health Plan

Because of the Affordable Care Act, there are now more options open to Americans who are having difficulty finding affordable health insurance.

The Affordable Care Act is good news for those who are on a budget but want and need health insurance. The important thing to remember is to compare private health plans from different providers. This will help you select the best health plan plan to fit your needs.

When to Buy a Private Individual and Family Health Plan

Louisiana private individual and family health insurance plans are perfect for those who are:

  • Self-employed
  • Employed at a company that does not offer a group plan
  • Enrolled in a group plan that does not cover spouses and/or dependents
  • Enrolled in a health plan that entails an expensive premium
  • Enrolled in a health plan; however, your benefits needs have altered

Tips for Finding Affordable Health Insurance

There are numerous Americans who are looking for their own insurance, either because they don’t get coverage from work, or the coverage that they get is not enough for their needs. There are a few things that you need to know that will help you find reasonably-priced health insurance.

Louisiana Health Insurance Marketplace

While purchasing health insurance directly from a carrier is certainly still an option, you can also shop for policies through the Louisiana Health Insurance Marketplace, which is run by the federal government. This marketplace is available for people who:

  • Do not have health insurance
  • Employed at a company that does not offer a group plan
  • Do not have Medicare
  • Are not included in their spouse’s employer insurance
  • Have pre-existing conditions that prevented them from getting insurance before
  • Own a small business
  • Want to shop around for other options

According to HealthInsurance.org, more than 148,000 Louisiana residents selected a qualified health plan (QHP) through the marketplace as of January 30, 2015. In addition, the U.S. Department of Health and Human Services reported that the number of insurance companies selling through the marketplace in Louisiana grew from five to six, when UnitedHealthcare, the country’s largest health insurance company, joined the marketplace in Louisiana and 20 other states.

It is important to remember that residents who do not get health insurance coverage will pay more for penalties than they would pay for premiums. Those who do not qualify for exemption and do not get health insurance in 2015 will owe a penalty when they pay for their taxes. The penalties for 2015 are the greater of:

  • 2% of annual income
  • $325 per adult or $162.50 per child under 18

You can check HealthCare.gov for a list of exemptions and penalty caps.

High-Deductible Health Plan

If you’re really looking to save money, you can check out a high-deductible health plan (HDHP). This ensures that you will have a low premium; the downside to this would be higher out-of-pocket expenses in the event of unforeseen situations.

Medicaid

Another option is to check your Medicaid eligibility. Because the Affordable Care Act seeks to increase the number of citizens that are insured, it has created a minimum eligibility for Medicaid, which is the joint federal and state health care program for low-income residents.