There are various methods available in New Jersey for finding health insurance coverage, both public and private plans, but it is crucial that you investigate all available plans prior to committing.
Get Covered New Jersey is New Jersey’s official marketplace where individuals and families can shop for and purchase coverage, with subsidies to help reduce premium costs.
Get Covered New Jersey
Get Covered New Jersey is an official state health insurance marketplace providing New Jerseyans with access to quality yet cost-effective coverage from private insurers, while also offering cost assistance programs that may help to lower monthly premiums.
Nearly nine out of 10 residents who enroll at Get Covered New Jersey qualify for financial help, including eligibility for NJ FamilyCare – New Jersey’s public health insurance program that offers either free or low-cost health coverage options.
New Jersey residents can utilize the health insurance marketplace to gain access to private plans from insurers such as Horizon Blue Cross Blue Shield of New Jersey, AmeriHealth New Jersey, Oscar, WellCare and Aetna – depending on income and household size they offer various plans with various benefits and pricing structures.
NJ FamilyCare
New Jersey residents have access to an affordable selection of private health insurance plans, as well as state-subsidized Medicaid coverage available to some low-income individuals including elderly and child residents.
NJ FamilyCare strives to ensure that all New Jersey residents can gain access to quality medical care, regardless of their ability to pay for health insurance premiums. This program offers free or low-cost coverage to adults with an income that falls within 138% of federal poverty level.
Sign-ups are open year-round to people who meet eligibility requirements. Enrolling can also help when experiencing major life changes such as losing existing health coverage or unemployment; assistance will be available from trained professionals in selecting and applying for coverage options.
Silver
Silver plans offer moderate monthly premiums and out-of-pocket costs. They’re also the optimal choice if you qualify for cost-sharing reductions (CSRs).
ACA’s healthcare exchange website automatically calculates these subsidies when entering income information, so if your family’s income falls below the Federal Poverty Level, CSRs could apply when purchasing a Silver plan.
Bronze plans can be an economical option for people who rarely need their health insurance policy, with low premiums and no out-of-pocket expenses until your deductible has been met.
Gold
Gold plans typically provide comprehensive coverage and predictable out-of-pocket expenses (deductible, copayments and coinsurance), providing more healthcare services than Silver or Bronze plans.
Gold’s average cost sharing value, or actuarial value, represents approximately 80% of covered costs. It should be remembered that these values should only be seen as estimates rather than set amounts.
Gold health insurance plans can be both cost-effective and highly recommended for those who frequently visit their doctor, or have an existing family history of medical conditions. Unfortunately, monthly premiums tend to be higher for these plans compared with others tiers.
Catastrophic
Catastrophic plans provide low-cost protection from high medical costs. These plans typically cover several primary care visits before your deductible is reached; furthermore, some offer hardship exemptions for individuals under 30 years of age.
Health plans on the Marketplace are divided into four metal tiers; bronze being the lowest level and platinum the highest. Each metal tier represents how supportive and considerate your insurance provider is towards providing coverage.
