5 Things You Need to Know About Delaware Health Insurance

5 Things You Need to Know About Delaware Health Insurance

Health insurance is essential, no matter where you live. If you are a resident of Delaware, then there are specific things that you should know about Delaware health insurance. This article will highlight the five most important things that you need to be aware of when it comes to Delaware health insurance.

1. It is Mandatory to Have Health Insurance

Since the Affordable Care Act (ACA) was enacted in 2010, it has been mandatory for all Americans to have health insurance. Those who do not have health insurance can face significant penalties. Delaware is no exception, and residents of this state must have health insurance that meets certain minimum essential coverage requirements. If you do not have health insurance, you may have to pay a penalty that is based on your income.

2. There are Several Options Available

Delaware residents have several options available when it comes to health insurance. They can either purchase coverage through the Health Insurance Marketplace, obtain coverage through their employer, or purchase a private health insurance plan. In Delaware, there are three insurers that offer plans on the Health Insurance Marketplace, and residents can choose from bronze, silver, gold, and platinum level plans depending on their needs.

3. There are Subsidies Available to Assist with Premiums

For those who qualify, financial assistance is available to help pay for health insurance premiums. The amount of assistance is based on income and family size. Individuals with household incomes that are between 100% and 400% of the federal poverty level may be eligible for subsidies that can make insurance more affordable.

4. Pre-existing Conditions Cannot be Denied Coverage

Thanks to the ACA, health insurance companies cannot deny coverage to individuals due to pre-existing conditions. This means that if you have a pre-existing condition, you can still purchase health insurance that covers your medical needs. In Delaware, there are certain health insurance plans that are specifically designed for individuals with pre-existing conditions.

5. Open Enrollment Periods for Health Insurance

Every year, there is an open enrollment period for health insurance that allows individuals to purchase coverage or make changes to their existing coverage. In Delaware, the open enrollment period typically runs from November 1st through December 15th. Outside of this period, individuals can only purchase health insurance if they have a qualifying life event, such as getting married or having a child.

Conclusion

In conclusion, Delaware residents must have health insurance that meets certain requirements. There are several options available, and financial assistance is available for those who qualify. Pre-existing conditions cannot be denied coverage, and there are specific plans available for those with pre-existing conditions. Finally, there are open enrollment periods every year that allow individuals to purchase or make changes to their health insurance coverage. It is important to understand these five things when it comes to Delaware health insurance.

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