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What You Need to Know About Purchasing Health Insurance in Idaho

Description: Your Health Idaho, sometimes referred to as the ID Health Insurance Exchange, is an online portal through which individuals and businesses can buy Idaho health insurance at federally regulated prices. The main function of the exchange is to connect buyers and sellers for buyers and sellers to compare rates, options, and terms before proceeding to buy a health policy from any insurance company in Idaho. The online portal serves as a clearinghouse for buyers and sellers so that they may compare multiple quotes and select the one that offers the lowest cost. The website also helps you understand the basics of health insurance in Idaho before making your choice.

About Purchasing Health Insurance in Idaho

History: In 1969, the U.S congress directed the Department of Health and Human Services to develop a uniform health insurance rate throughout the country. This is now known as the Medical Assistance Plan (MAP) or the Health Insurance Rate Authority Act. Since then, health insurance companies have had to compete for customers by offering different rates and coverage packages. There are about eighty different insurance companies in Idaho. Most offer their services through brokers who represent them on the exchange. Brokers earn commissions for each policy purchased and can be paid by either the insurance companies or by the customers themselves.

In order to buy health insurance in Idaho, you need to have certain personal information. This includes your Social Security Number, your date of birth, your gender and your current age. Companies need this information to calculate your premium based on your insurance needs and existing health status. Your profile will also include information on your hobbies and work history, your current health conditions, hobbies and medical history and your family’s medical history. These fields are important factors that affect the cost of your insurance and will contribute to your overall quote.

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