Affordable Health Insurance in Indiana

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Best Health Insurance Plans Indiana

Before discovering a right health insurance plan in Indiana, it’s important to know certain facts about it. In Indiana, health insurance plans are offered through federally facilitated exchange, so customers are required to enroll through HealthCare.gov for health insurance coverage.

In the state, pen enrollment for 2019 coverage closed ended on December 15. However, Indiana citizens with qualifying events can still enroll for the health insurance plans. The state has short term plans on offer that are offered with initial terms of up to 364 days.

The state, as of now has two insurers offering 2019 coverage. Indiana participated in Government run ACA’s Medicaid expansion program in 2015.

Top Health Insurance plan in Indiana

  • CareSource

    CareSource Marketplace Bronze

    premium $256.26/mo

    Deductible $7700/yr

    Coinsurance7.8%
    Insurance Type HMO
    HSA Eligible No
  • CareSource

    CareSource Marketplace Bronze Dental, Vision, & Fitness

    premium $272.64/mo

    Deductible $7700/yr

    Coinsurance11.6%
    Insurance Type HMO
    HSA Eligible No
  • CareSource

    CareSource Marketplace HSA Eligible Bronze

    premium $293.38/mo

    Deductible $5300/yr

    Coinsurance10%
    Insurance Type HMO
    HSA Eligible Yes
  • Ambetter from MHS

    Ambetter Essential Care 1 (2020)

    premium $305.54/mo

    Deductible $8150/yr

    Coinsurance3%
    Insurance Type EPO
    HSA Eligible No
  • CareSource

    CareSource Marketplace Low Premium Silver

    premium $320.06/mo

    Deductible $6800/yr

    Coinsurance6.45%
    Insurance Type HMO
    HSA Eligible No

Indiana Health Insurance Marketplace:

As stated, health insurance plans in Indiana relies on the federally facilitated exchange. This is why customers should enroll through HealthCare.gov.Open enrollment for 2019 coverage is from November 1 through December 15, 2018. In 2018, approx. 167,000 Indiana residents enrolled in the health coverage through the open enrollment period.

As of now, two carriers in Indiana states are offering 2019 coverage. The average filed rate increase for 2019 coverage was 5.1 percent.

Indiana Medicaid:

Medicaid in Indiana was enacted by the ACA and further extended to low-income adults in the state. It was done to cover up to 138 percent of the federal poverty level. The second waiver proposal for Medicaid was approved by CMS in January 2015.

In the state, Medicaid is available in two ways- HIP Basics and HIP Plus. HIP Plus offers coverage for dental and vision coverage. The plan has no copays unless the beneficiary uses the emergency room for non-emergency care. Furthermore, HIP Basic has copays and does not cover dental and vision coverage.

The plan allows people with income above the poverty level to enroll in the program. They need to pay the premium to receive benefits of the plan.

Indiana Health Insurance Plans

Indiana health insurance plans are the best fit for self-employed individual or those waiting to get an insurance coverage from employers. Indiana health insurance offers several of the health insurance options available with multitude of benefits.

Indiana Individual and Family health Insurance

Indiana individual and family health insurance plans are designed for the individual who are self-employed or don’t have a group plan coverage from the employer. The plans are also feasible to opt if the beneficiary is enrolled in a group plan, but the plan doesn’t cover spouses or dependents. Here are some popular Individual and family plans in Indiana.

Short term Health Insurance Plans

In Indiana, short term health insurance plans are allowed for up to 364-day terms and 36-month total duration. The new legislation proposed for the plan offers a benefit cap of at least $2 million. As of now, 8 insurance carriers are offering their offer short-term plans in the state. They are:

  • Companion Life
  • Everest Prime
  • Independence American Insurance Company
  • National General
  • Standard Life
  • Standard Security Life
  • United Healthcare (Golden Rule)
  • United Security Health and Casualty

Under the regulations and terms stated by H.B.1631, short-term plans in Indiana State will abide the new federal guidelines in terms of duration. The carriers, therefore can have initial terms of up to 364 days, and can have a total duration, including renewals, of up to 36 months.

Dental Insurance Plans

In Indiana dental insurance plans are designed to offer beneficiaries Dental insurance is designed to offer beneficiaries coverage for common dental care issues and to provide them budget for dental services. The dental plans cover the dental care for all levels including preventive, basic and major. In the state, dental insurance plans are underwritten by Golden Rule Insurance Company to enable pay expenses for dental care coverage.

There are several insurance carriers that are offering affordable dental care plans in the state. The plans offer coverage for preventive care like routine cleanings and fluoride treatments covered. The coverage is with no deductible or waiting period. Plans are backed and supported by more than 85,000 dental offices, in private and retail settings in the state.

In terms waiting period, it’s worth noticing that that the plan has no waiting period on preventive services the moment your coverage begins. As soon you purchase the insurance, your preventive care benefits begin. Some basic and major services may have 4-12 months of waiting periods.

Vision Insurance Plans

Indiana vision insurance is a way to provide Indiana citizens with coverage and budget so that they can pay for ongoing vision care expenses like routine eye exams, prescription glasses and contact lenses. Vision insurance in the state offers coverage for people of all ages without any waiting periods. These plans are offered and supported by a national network of vision service and eye wear providers across the state.

FAQ on Indiana Health Insurance

Indiana state does not have a specific law according to which the residents of the state are required to have health insurance. Though, residents are subjected to the Federal Affordable Care Act that requires residents to have a minimum standard of health coverage. The Affordable Care Act strongly supports that you should have health insurance, though the penalty for not having health insurance has been removed. This means that you still have to report your coverage status on your federal tax return, but you will not be required to pay a penalty if you are not covered.

Earlier Indiana has its own state regulations regarding short-term plans but the regulations changed in mid-2019 and now the state follows the federal rules for short-term plans. The short-term health plans are available for sale in Indiana and are available for an initial term of up to 364 days with the option to renew it for another 36 months. However, the state has imposed other restrictions that include a benefit cap of at least $2 million.

Indiana residents do have some cheap and affordable options in terms of health insurance plans on their state exchange. Though, the cheapest and affordable plan will vary depending upon your medical condition, financial situation, and the county in which you live. However, after careful analysis of all the health insurance plans in Indiana, it was determined that either the Ambetter Balanced Care 12 or CareSource Marketplace Low Premium Silver was the cheapest plan in every county. Though, the monthly premium of these plans may vary county to county. The Ambetter Balanced Care 12 plan has a monthly premium between $242 to $392 for a 30-year old depending upon the county.

In Indiana, there are four metal-tiers of health plans such as Bronze, Expanded Bronze, Silver, and Gold. The cheapest Bronze plan in Indiana is Ambetter Essential Care 1 having a monthly premium of $246 for a 40-year old. The cheapest Expanded Bronze Plan in Indiana is Ambetter Essential Care 2 HSA having a monthly premium of $263 for a 40-year old. The cheapest Silver plan in Indiana is Ambetter Balanced Care 12 having a monthly premium of $272 for a 40-year old. The cheapest Gold plan in Indiana is Ambetter Secure Care 5 having a monthly premium of $366.

The Open Enrollment Period in Indiana runs from November 1, 2020, through December 15, 2020, and the coverage will become effective from January 1, 2021. If you do not enroll in a health plan in Indiana by December 15, you will not be able to obtain health coverage in 2021, unless you qualify for a Special Enrollment Period.

As a resident of Indiana state, you do not have to worry about choosing a suitable health insurance plan, as the state offers multiple options as far as health insurance plans are concerned. Right from individual and family plans of different metal-tiers like gold, silver, and bronze, to short term plans, to catastrophic plans, to government-funded Medicare and Medicaid plans, there are a whole lot of options for you to choose a plan that will suit your health requirements and budget.

Two health insurance carriers that will be offering health insurance coverage in the Indiana health insurance marketplace in 2021 are:

  • CareSource
  • Celtic

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