Important Changes to the Illinois Health Insurance Marketplace for 2021
The Illinois health insurance marketplace is getting a major overhaul for 2021. This is expected to have a big impact on residents of Illinois, both those who already have insurance and those who are still looking for coverage. In this article, we’ll go over the most important changes to the marketplace and what they mean for you.
Lower Rates for Some Plans
One of the biggest changes for 2021 is that some insurance plans will be cheaper than they were last year. This is because the state of Illinois was able to negotiate lower rates with some insurance companies. As a result, if you have a plan with one of these companies, you may see a lower premium and/or deductible.
It’s important to note that not all plans will be cheaper. Some plans may actually increase in price. So, it’s important to shop around and compare plans to make sure you’re getting the best deal.
New Insurance Providers in the Marketplace
Another big change for 2021 is that there will be new insurance providers in the marketplace. This is good news for consumers, as more competition can mean better prices and more options.
For example, Bright Health is a new insurance provider that will enter the Illinois market in 2021. They offer a range of plans, including HMOs and PPOs, and have a strong focus on preventative care.
Changes to Telehealth Coverage
Telehealth, or virtual visits with healthcare providers, have become increasingly popular during the COVID-19 pandemic. In response to this, the Illinois marketplace is making changes to telehealth coverage for 2021.
Most insurance plans will now cover telehealth visits the same way they cover in-person visits. This means that you may not have to pay a copay or deductible for virtual visits. However, it’s important to check with your insurance company to confirm their specific telehealth coverage policies.
Expanded Coverage for Mental Health and Substance Abuse
Finally, the Illinois marketplace is expanding coverage for mental health and substance abuse treatment in 2021. This includes coverage for things like counseling, therapy, and medication-assisted treatment for addiction.
This is a welcome change, as many Illinois residents struggle with mental health and/or substance abuse, and may have trouble affording or accessing treatment.
Conclusion
The changes to the Illinois health insurance marketplace for 2021 are significant and have the potential to benefit many residents of the state. Whether you’re looking for cheaper plans, more options, or expanded coverage for specific treatments, it’s important to shop around and compare plans to make sure you’re getting the best deal for your needs.
