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Getting Health Insurance
“Premium health insurance tax credit” is a popular term floating around lately. Also referred to as a “health insurance subsidy”, this premium tax credit is financial assistance to help people pay for health insurance, as long as they qualify for it. With open enrollment just around the corner, don’t miss out on a premium tax credit for your health plan. Has your income changed? Did you have or adopt a child? Update your household information by December 15th, because these factors can impact your health plan choices and your premium tax credit (or health insurance subsidy), giving you an opportunity to get help paying for health insurance. We can help you through the process so you can get an up-to-date calculation from the government.
Follow these 5 steps:
Look for a letter from your insurance company about how your benefits and costs may change next year.
Log in to www.healthcare.gov to update your financial and household information to be sure you get the correct financial assistance in 2019, even if you are keeping the same plan.
Compare your existing coverage with other plans that are available in your area.
Select the health plan that best fits your budget and health needs.
If you decide to go with a new plan, enroll by December 15 to have any changes take effect on January 1.
If you’re eligible for financial assistance, keep in mind that you must purchase a plan through the health insurance marketplace for a premium tax credit. Visit GetCoveredIllinois.gov. It will ensure your credit is applied to your plan correctly.
When checking plans, consider:
Are there more affordable plans available this year that weren’t options last year?
Are you happy with the changes your current plan has made for 2019?
Are your existing doctors in the plan’s network? For BCBSIL plans, you can use our Provider Finder to check.
Will your routine prescriptions be covered?
Are you eligible to have lower costs on your health insurance? Check first with our subsidy calculator!
If you're ready, start shopping now or if you have questions or would like to enroll in a BCBSIL plan by phone, call 1-877-731-4649.
Last update: 10/22/2018
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