Getting health insurance in Miami FL is important and in this article, we will be talking about ten facts about health insurance in Miami.
With a population of 442,241 as of the 2020 census, Miami is the second-most populous city in Florida, the eleventh most populous city in the Southeast, and the 44th-most populous city in the world.
Regarded as one of the most popular vacation spots in the world, Miami has continued to receive visitors on a daily basis.
Citizens have not taken the health insurance provided for granted. Let’s check out ten facts about the health insurance available in Miami Florida.
10 Facts About Health Insurance in Miami FL
1. Available For Individual And Family
Health Insurance in Miami is available for everyone. As an individual, you can get yourself a health insurance plan.
Family health insurance plan is also available for those willing to get their loved ones attached to the various offers available.
There is an insurance plan for everyone staying in Miami.
2. How To Get Health Insurance In Miami
Health Insurance can be gotten in Miami through an employer, an online shopping site, a licensed agent in person or over the phone, the federal government’s insurance exchange or directly from an insurance company.
It can also be gotten from state-funded programs for low-income residents.
3. Insurance Health Plans Available
There are four main levels of ACA plans available: platinum, gold, silver, and bronze.
These plan levels, often called “metal levels,” vary based on the percentage of out-of-pocket costs you are responsible for paying after you’ve met your deductible.
4. How much does health insurance cost per month in Miami Florida?
Prices for ACA health plans vary depending on your age, location, tobacco use, plan category, and whether the plan covers dependents.
The average price for a Florida ACA plan without a tax subsidy in 2021 is $597. With a tax subsidy, it’s $98.9.
5. Who qualifies for premium tax credits?
Families earning between 100% and 400% of the Federal Poverty Level (FPL) can lower or cover the cost of premiums either in direct payment to the health insurance provider or expensed in their annual tax return.
In 2021, eligible income is from $12,760 to $51,040 for an individual and from $26,200 to $104,800 for a family of four.
Premium tax credits may be applied toward any metal level ACA plan.
6. Who qualifies for cost-sharing reduction?
Families earning between 100% and 250% of the FPL can have the health insurance provider lower or cover more out-of-pocket costs when health services are received. In 2021, that means individuals earning between $12,760 to $31,900 per year. For a family of four, that would be between $26,200 and $65,500
7. Short Term Health Insurance Plan Available
In Miami Florida, you can have short-term coverage for a little as one month or up to 36 months.
The benefits of short term plans are that you can apply anytime during the year, you could have coverage as soon as 24 hours after applying, and you can cancel your plan at any time.
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8. Health Insurance Options for Low-Income Earners
Low-Income Earners in Miami are also allowed to enroll for health insurance.
However, to qualify for Florida Medicaid health services, you must be a resident of Florida, a U.S. national, citizen, permanent resident, or a legal alien.
Individual income must not exceed $16,971 per year.
9. Health Insurance for Florida’s Low-Income Children
Florida KidCare is a low-cost health insurance program for children up to age 18. Eligibility and costs are determined by income and household size.
10. Number of enrollment in 2022
A record number of people – 2,723,094 enrolled in plans through the Florida exchange during the open enrollment period for 2022 coverage.
Florida’s enrollment is by far the highest of any state and accounts for almost 19% of the entire country’s marketplace enrollments.
Summary: 10 Facts About Health Insurance in Miami FL
Stated above are the basic facts that everyone needs to know and understand about health insurance in Miami Florida.