Finding an affordable Texas health insurance plan is not an easy task. When the Affordable care act took effect and required most Americans to buy health insurance coverage. Texas elected to participate in the federally facilitated marketplace. When residents enroll in ACA-compliant health plans sold through the health insurance exchange, they can apply for income-based financial assistance that helps lower their monthly health insurance premiums and out of pocket expenses for healthcare.
All health insurance plans available in Texas could be reviewed from the federally run marketplace. The medical insurance Texas is comprised of top-class insurance carriers. Some of these insurance carriers like Alpha Dental or Humana offers Dental insurance only and some short term insurance only like Golden Rule and Everest. But there are Ambetter, Blue Cross, Oscar, and Molina like insurers offering individual and family health insurance plans to the legal residents of Texas. Again, there are state-funded Medicare and private-run Medicare Advantage policies as well. In 2019, more than 4.2 million people were covered under Medicare and 1.6 million covered under Medicare Advanced.
As such, there is no dearth of good and affordable policies in Texas. At present, if you are interested in buying a policy for yourself or your family through the federally run marketplace, there are insurers offering varieties of plans in Texas including affordable plans, cheap plans, Medicare Advantage, Dental Plan, and Short Term plans.
Texas was one of the states that opted not to expand Medicaid when the Affordable Care Act (ACA) was adopted. This means that most people will not be eligible for Medicaid. Anyone earning above the federal poverty level is eligible for subsidies if they purchase insurance through the Health Marketplace Exchange; these subsidies taper off as you get closer to the upper limit of 4 times the federal poverty rate, at which point you stop being eligible.
6 ways to get a Texas health insurance plan
Given this information, here are the best ways to get a Texas health insurance plan that suitable for you:
- Have a job which gives insurance as a benefit;
- If you lost such a job, extend your insurance with COBRA. Ask your former company’s HR for the paperwork;
- If you are self-employed or a gig worker, make sure you earn at least the federal poverty level ($12,760 for an individual in 2020. See Poverty Guidelines for other family sizes). It really is a cliff, below which you’re in trouble;
- If you’re below 26, try to get on your parents’ insurance, reimbursing them for the added cost if applicable;
- If you can’t do any of 1–4, check on the Marketplace website Get 2020 health coverage. Health Insurance Marketplace to see if you have a special situation that makes you eligible for Medicaid, but in Texas, don’t hold your breath, you’re probably not eligible;
- If none of the above, move to another state.
Texas has made a huge leap in the national health rankings since 2008 moving up from 46th healthiest state to 31st. For the main part this has been due to a decrease across the population in smoking, a low percentage of drug-related deaths and an increase in childhood immunizations. Improvements can still be made to the percentage of residents without health insurance cover in addition to the provision of primary care physicians, per capita across the state.
Finding an affordable Texas health insurance plan can be complex but if you know what you’re searching for, it becomes easy to find a health insurance suitable for you. So, for any health insurance plan your annual income and medical needs are the primary criteria for finding an affordable health insurance in Texas.
In Texas, you’ll not find federally implemented Medicaid and CHIP since this state has not adopted the Affordable Care Act. So, right now you have to explore the medical insurance Texas marketplace for finding a suitable policy, consult a company health insurance advisor, or consult an online consultant for the same.