A Guide to the Most Affordable Health Insurance in Louisiana
An alarming number of Louisiana residents (8.9%) do not have health insurance. Lack of health insurance in Louisiana can lead to delayed procedures, lack of preventative doctor visits, and other potentially serious healthcare issues.
One of the most common barriers to affordable health insurance in Louisiana is the high cost of monthly premiums. If you are wondering how to choose a health insurance plan, you came to the right place. Read on to learn tips for finding the best health insurance in Louisiana.
What Are My Options for Health Insurance in Louisiana?
The main factor for health insurance costs in Louisiana depends on the medical costs that you want to be covered. There are four metal tiers. Each has a different level of deductibles and out-of-pocket maximums within the Louisiana marketplace.
Of these plans, the Silver plan offers a great balance between coverage and premiums. The average rate for the Silver plan is $699 a month. Whether you live in Shreveport or another city in Louisiana, the cheapest plan at the moment is offered by CHRISTUS through their CHP LA Basic Silver plan, which includes two free PCP visits and costs $407 per month.
Do I Need Coverage?
Many people have insurance through the government (if they qualify) or through their employer. If you do not have health insurance through your employers or the government, then you will need to buy insurance through the state insurance exchange.
As you search for the best insurance in Louisiana for your needs and budget, look for a plan that balances coverage and costs. Remember that plans that are cheaper in regards to monthly premiums tend to require high payouts for procedures. Cheaper plans may also have higher greatest out-of-pocket expenses.
If you are looking for a trusted Obamacare-producing agency, rely on The Real Insurance Lady to help you find the best deals for you and your family. We serve Alexandria and every town and city within Louisiana.
The Cheapest Health Insurance in Louisiana by Metal Tier
You may have heard of the metal tier system used by the insurance exchange program. Tiered plans into similar cost amounts. There are four options: Bronze, Expanded Bronze, Silver, and Gold.
The average cost of a Bronze plan is $508 a month. The Silver plans cost around $669 a month, while the Gold plan averages $728.
In Louisiana, Bronze plans are more expensive than Expanded Bronze. This exception only happens in certain markets.
If you expect to have high medical costs, consider using the Gold plan. You may pay more in monthly payments, but your out-of-pocket expenses will be lower. This can be very helpful if you are trying to avoid unexpected expenses.
Premiums, deductibles, and greatest out-of-pocket expenses vary by tier. If you have a low annual income, you may qualify for a cost-sharing reduction known as a CSR. This allows for cheaper deductibles.
Other Louisiana Insurance Cost Factors
Insurance premiums increase as you age. As you search for insurance plans, you will need to consider your age and income. If you are younger, most metal tiers may be within your budget.
If you are 60 or older, even the lower-end tiers can cost around $1,400 per month. This may mean that the Gold plan, for example, may no longer be affordable. Either way, consider potential out-of-pocket expenses.
Once you have an idea of what your needs are, contact the team at The Real Insurance Lady. We take the guesswork out of shopping for insurance while ensuring that you find the best deal possible.
The Cheapest Health Insurance in Louisiana by Parish
Like other states, Louisiana has rating areas that are used to calculate premiums. This means that your health insurance costs will vary by parish.
There are 64 parishes in Louisiana that are divided into eight rating areas. The cheapest insurance in East Baton Rouge Parish is around $500 per month for a 40-year-old male.
The Cheapest Health Insurance in Louisiana With High Out-of-Pocket Maximums
It may be in the best interest of young folks in good health to opt for low-cost plans that have higher out-of-pocket maximums. The main help is low monthly premiums.
A 26-year-old, for example, can enjoy a Bronze plan for $296 per month. Insurance companies calculate the likelihood that a person will require medical treatments. Age is a significant factor.
Even if you are young, you will still need to consider the likelihood that you may need to pay out-of-pocket expenses. If you cannot readily afford those costs, you may be better off paying a bit more per month to prevent unexpected expenses.
The Cheapest Health Insurance in Louisiana With Low Out-of-Pocket Maximums
Shopping for a plan based on maintaining a low out-of-pocket maximum can help you cut unexpected costs. Often, this means that you will have to pay more per month.
In the event that you do need significant medical treatments, once your max is met your insurance carrier will pay 100% of the extra costs. A 40-year-old with a low greatest payment plan can expect monthly premiums of around $685 per month. This is for a plan with a $7,000 greatest payout.
Find Affordable Health Insurance in Louisiana
Finding affordable health insurance in Louisiana is easier than you think. With so many health insurance Louisiana options available through the Affordable Care Act, there are many options suited to your needs and financial resources. We also have an excellent track record for helping our clients find affordable rates. In fact, 95% of our clients qualify for FREE health insurance!
Putting off important preventative care can lead to the need for costly and invasive procedures later on. Contact the trusted team at The Real Insurance Lady today. We are the number Obamacare-producing agency in the country!
