Your Guide to Washington State Health Insurance

 washington state health insurance

Before we jump right into Washington state health insurance and everything you need to know, let’s start with a little background information. In 2010, the Affordable Care Act (a.k.a “Obamacare” or ACA) was passed with the goal of getting all Americans access to affordable health insurance. To meet this goal, one measure Obamacare took was to create the ACA health insurance marketplaces, or health exchanges: one-stop shops where Americans can choose from a range of standardized, government-regulated health care plans. Health exchanges are also where eligible people can get subsidies, which lower the cost of their health plans.

States were given the option to run their own local exchange, take part in a multi-state exchange, or use the federal exchange. States that run their own exchanges get to customize many elements, including the time frame during which their residents can sign up for a plan. Several states decided to operate their own state exchanges and continue to do so to this day. Washington is one of those states.

Washington State’s Health Insurance Landscape: Then and Now

The Washington state health insurance exchange is called Washington Healthplanfinder. Before the ACA, 14.5 percent of Washingtonians were uninsured. Since the introduction of Washington Healthplanfinder, the percent of Washingtonians without health insurance has dropped to 7.3! Those who are uninsured tend to be the following:

  1. Between the ages of 18 and 34

  2. Lower income

  3. Less educated

  4. Caucasian or Hispanic

243 thousand people have enrolled for health insurance through Washington Healthplanfinder.

The Washington State Health Insurance Exchange

Washington Healthplanfinder is where eligible people throughout the state can find subsidized ACA plans. Open Enrollment for 2019 in Washington begins November 1 and ends December 15. Your coverage will start January 1. This sign up window is the exact same as the window given on the federal exchange!

Washingtonians are charged a monthly feel to help fund Washington Healthplanfinder. For the past three years, this fee has been $7.46 per member per month. The exciting news is that this fee is being reduced by 55 percent to $3.36 for 2019 due enrollment growth in 2018.

Like all other state exchanges, each plan on Washington Healthplanfinder covers 10 essential health benefits. These include things like prescription coverage, maternity and mental health care, and laboratory services.

Buying insurance with Washington Healthplanfinder involves four steps:

1. Create an account on Washington Healthplanfinder

2. Complete the online application form

3. Compare your options

4. Select your plan and enroll

In true health insurance fashion, each of these steps can be trickier than you expect. Many people need help navigating the website, estimating their income, figuring out if they are eligible for subsidies, and understanding what documents are needed for proof of income, citizenship, or identity. Working with Stride makes this process much faster and easier, while still enrolling through Washington Healthplanfinder with the same plan at the same price.

Washington Healthplanfinder’s Intricacies: What You Need to Know for 2019

All insurers that offered plans on Washington Healthplanfinder for 2018 will continue to do so for 2019. This means all seven carriers are returning to the exchange. These seven carriers include:

  • BridgeSpan Health Co

  • Coordinated Care Corp

  • Kaiser Foundation Health Plan of the Northwest

  • Kaiser Foundation Health Plan of Washington

  • LifeWise Health Plan of Washington

  • Molina Healthcare of Washington

  • Premera Blue Cross

As of 2016, Premera Blue Cross had the largest segment of the Washington state health insurance market. However, Washingtonians are lucky because there is a wide variety of carriers participating in the exchange. This means you have a pretty good selection when choosing a plan.

According to a recent Washington Healthbenefitexchange press release, insurance plan prices are increasing. The amount by which it increases depends on where in Washington you live. On average across the state, your monthly premium will increase by 13.8 percent if you choose to keep your current health plan. While this may seem scary, most health insurance shoppers can generally avoid rate increases entirely by switching to the cheapest plan within their metal tier. Not to mention, you will likely qualify for a health insurance subsidy, which can help make your plan more affordable; of the 243 thousand people enrolled through Washington Healthplanfinder, 62 percent receive federal subsidies.

If you live in Washington, the start of Open Enrollment (the time of year when you can enroll in a new health plan) is here. Be sure to find your most affordable plan, and you’ll be well on your way for smarter, better savings all year long. And don’t forget – if you need help finding a subsidy or picking a plan, our experts are here to help!

Sydney FrazerComment