Since each state abides by its own Department of Insurance laws, healthcare specifics like pricing, qualifications, and options vary depending on where you live. This means that some states are more flexible in terms of coverage and costs than others. So before you select a healthcare plan for you and your family, it’s best to get to know your options in the state of Tennessee.

Tennessee Health Insurance Plans

If you are looking for health insurance in Tennessee, then you have several options to select from. You can get coverage through the workplace, public programs like Medicare or Medicaid, the state’s exchange, or the private marketplace.

Tennessee does not require health insurance, so they don’t enforce an individual mandate that fines you for going uninsured. But since life can get unpredictable, choosing coverage is one of the best decisions you can make. When selecting a health insurance plan, you have two options:

Qualified plans are plans that are compliant with the Affordable Care Act, which cover the ten Essential Health Benefits, a guarantee that covers specific healthcare costs no matter your age, location, or health status.

Non-qualified plans do not follow federal health requirements, but they are less expensive plans that are offered through the private marketplace and offer variations on its coverage.

If you choose a qualified plan, you can enroll through HealthCare.Gov, a private exchange like iHealth Agents, or directly with an insurance carrier during the annual Open Enrollment period. On the other hand, non-qualified plans are offered on a private exchange, following different enrollment schedules, meaning you can enroll any time of year.

Depending on what type of insurance you select will affect your individual, family, or short term coverage. First, it’s best to take the time to understand the tiers that factor into your health insurance coverage.

Understanding Health Insurance in Tennessee

Having health coverage is the best way to prevent your family from going into medical debt in the event of an emergency. These types of costs are the leading cause of consumer debt and related financial problems, like bankruptcy and home foreclosure.

Health insurance is designed to help share medical costs with you until a certain point when your insurer will completely cover the rest of the expenses. That point, called the out-of-pocket limit, entirely depends on the plan and type of coverage you choose.

You can refer to the metal tiers of coverage:

Bronze
Bronze

40% out of pocket and 60% insurer pays

Silver
Silver

30% out of pocket and 70% insurer pays

Gold
Gold

20% out of pocket and 80% insurer pays

Platinum
Platinum

10% out of pocket and 90% insurer pays

As expected, the less out-of-pocket costs you have to pay, the more expensive the monthly premiums will be. You can best choose the qualified or non-qualified plan that meets your needs by evaluating what your health coverage requirements are.

Individual Health Insurance

Individual health insurance is a type of coverage that you purchase if you are only covering yourself. You can get this coverage directly from qualified insurers, through your employer, through the health insurance marketplace in Tennessee, through a private exchange, or by applying through public insurance options like Medicare and Medicaid.

However, Tennessee has not adapted to ACA’s Medicaid expansion. Instead, they offer a program called TennCare. Residents who want to apply for TennCare must meet specific eligibility criteria set by the state.

Under qualified plans, individuals can expect to pay these average costs for premiums (Age 40, Zip code 37010):

  • Single Adult

    Single adult

    $683
  • Married Couple

    Married Couple

    $1,366

You may also consider non-qualified programs, which are generally less expensive and offer substantial coverage depending on what you need. Find low-cost non-qualified plans near you today.

Family Health Insurance

Family health insurance is a type of coverage intended to cover both you and any dependents, like a spouse or children. You can get this coverage through a qualified insurer, through the marketplace, or your employer. Social options like Medicare and Medicaid are usually only for individuals, so they are not viable options for families.

Under qualified plans, families can expect to pay these average premium costs in Tennessee (Age 40, Zip code 37010):

  • Health Maintenance Organization

    A married couple with one child

    $1,684
  • Health Maintenance Organization

    A married couple with two children

    $2,003
  • Health Maintenance Organization

    A married couple with three children

    $2,321

If affordability is a factor, then non-qualified plans are an excellent alternative. Choosing a non-qualified plan to cover your entire family means lower monthly premiums. These are ideal for families that still want a level of coverage for unexpected accidents, illness or emergency care.

Utah Short Term Health Insurance

Short Term Health Insurance in Tennessee

Short term health insurance is available in almost every state, including Tennessee. This type of insurance is temporary and designed to offer coverage in the event of an accident, illness, or emergency if you are not covered by a qualified plan. Because of this, they have shorter terms and do not cover pre-existing conditions.

The state automatically defaults to federal short term health insurance rules, which include:

  • Initial terms can last up to 12 months (364 days)
  • If you still need coverage after 12 months, you will need to re-apply for a new short term plan.
  • Keep in mind that when re-applying, you must meet the medical eligibility requirements again.

Several health insurance companies in Tennessee offer short term plans, including:

  • Independence American Insurance Company
  • Allstate Health

You can easily apply online and receive notice almost immediately. In many cases, coverage begins the very next day after acceptance.

Find the Right Plan Today

Whether you’re trying to stay within budget or find coverage that can meet all of your needs, finding the right plan for you and your family can be a frustrating process.

If you’re tired of searching for the right policy, then there’s good news: iHealth Agents does the work for you. iHealth Agents is an affordable exchange where you can browse through dozens of qualified and non-qualified plans—all at the right price. Find a policy that works for you today.