Shop Smartly for the Cheap Health Insurance Plans in New Jersey

1
Shop Smartly for the Cheap Health Insurance
Plans in New Jersey Residents of New Jersey State
do have some cheap and lucrative health insurance
options that will help them have protection for
the time of medical emergencies. Individuals need
to carefully explore all the options available to
select a cheap health insurance plan that
fulfils their healthcare needs well within the
budget. Health insurance industry of New Jersey
need to understand in this dire time that health
insurance should be affordable and accessible for
all, and residents of this state should not
suffer the financial ramifications because of an
unsuitable or expensive health plan. Residents of
New Jersey should not face a situation where they
have to choose between paying their health care
bills and meeting their basic needs like food and
shelter. To ensure its citizens have health
insurance, this Garden State has one of the
longest-running programs that provide residents
access to comprehensive private health coverage.
This is also the first state to have individual
mandate according to which residents of the state
are required to have health insurance.
Health Coverage Program for Individuals in New
Jersey Even before the implementation of the
Affordable Care Act in 2010, this Garden state
enacted its legislation offering ACA like
protections to residents. The Individual Health
Coverage Program was established in 1992 that
gave residents access to private health
insurance plans that don't have
government-sponsored coverage or employer
coverage. Individual Health Coverage members in
New Jersey were able to buy individual and
family plans from private health insurers
regardless of their age or health status. All the
individuals living in New Jersey who are not
eligible for Medicare will qualify for this
Individual Health Coverage plans that are
available through both on and off the federal
marketplace.
2
Individuals can have Access to Cheap health
Insurance with Obamacare Subsidies Obamacare
subsidies or premium tax credits offer financial
assistance to individuals that significantly
reduce their monthly premium on metal plans.
About four in five residents of New Jersey
qualify for the subsidies due to which many
individuals and families have save hundreds of
dollars with subsidies, thereby giving them
access to cheap health insurance in New Jersey.
An Individual with a maximum income of around
51,040 per year in New Jersey and a family of
four with an annual income of about 104,800 will
qualify for financial assistance or Obamacare
subsidies that will significantly reduce their
monthly premium. Understand impacts of premium
tax credit on the health insurance premium
through an example. An individual living in New
York earning 25,000 a year may get a silver plan
for 135 per month with subsidies that would have
cost 305 per month without subsidies. New
Jersey's Low-Income Health Insurance
Programs New Jersey resident having low-income
can have access to public health insurance
programs through NJ FamilyCare that includes
programs like Medicaid and the Children's Health
Insurance Program. Both of these programs are
best for individuals who qualify for either of
these programs, as they get low-cost or no-cost
health coverage through these plans. These plans
are available to citizens of New Jersey who are
65 and older, who have disabilities, and adults
of 19-64 years of age who don't have any
children, Children under 19 years of age,
parents and caretakers of dependent children, and
pregnant women.