Best Health Insurance Agencies in Bloomington

Frequently Asked Questions

• Introduction

  If you're looking for health insurance for yourself or your family, an agent can help you save time, understand your options, and manage your costs. Insurance agents must be licensed in the state where they operate. They can provide information about on- and off-exchange plans to help you weigh all of your options, and they can see if you qualify for tax credits that can lower your monthly premiums. There's no cost to work with an agent, and they can help you save quite a bit by recommending the best plan for your needs. Here's what you should know before you get started.
  

• Is there a health insurance program available for Bloomington residents experiencing financial constraints?

  Medical Assistance in Bloomington provides health coverage to low-income residents. Recipients may choose from local health plans, but some receive care on a fee-for-service basis, with practitioners billing the state. It caters to a variety of groups, including families, seniors, and the disabled. While covering various treatments such as doctor consultations and hospitalizations, certain services may require prior authorization. Costs vary; some members may be charged copays or deductibles.

• Is it mandatory for Bloomington residents to have health insurance as per state and federal laws?

  The Affordable Care Act requires Bloomington residents to have health insurance, but residents are not required to have any type of health insurance. Individuals should declare their insurance status on federal tax returns, but there is no financial penalty for not having coverage. Despite the fact that some states have implemented health insurance mandates, Minnesota has not.

• How can Bloomington residents manage Obamacare costs, and will smoking be a big factor in determining the premium?

  Bloomington residents can reduce Obamacare costs through tax credits for lower monthly premiums, lower annual out-of-pocket expenses, or eligibility for Medicaid or the Children's Health Insurance Program. Notably, those who use tobacco may face a 50% increase in premiums, with an average of 20%, and subsidies will not cover the tobacco-related surcharge.

• If a Bloomington worker struggles to afford employer-based health insurance, can they seek coverage through MNsure?

  Yes, Bloomington residents can use MNsure to explore their options even if they have employer-based insurance. The possibility of financial assistance is determined by the cost of their work-based plan and their MNsure eligibility. It is critical to understand that switching to a private plan through MNsure outside of the set enrollment period is not possible unless specific circumstances allow for an exception.

• Can Bloomington residents receive a tax credit for plans acquired outside MNsure?

  No, only through MNsure can Bloomington residents obtain financial benefits such as federal tax credits or reductions. Plans purchased outside of MNsure do not allow them to take advantage of the benefits provided by the MinnesotaCare or Medical Assistance programs. To maximize their financial assistance opportunities, residents must enroll through MNsure.

• How can you find affordable health insurance? 

  Affordable insurance is available through employers, Medicare, Medicaid, and the federal Health Insurance Marketplace, which offers subsidies in the form of tax credits. You can also purchase coverage through private insurance companies and independent agents. Nearly half of all Americans have employer-sponsored health insurance, and about 10% of the population is uninsured.