New York enjoys great prominence as its capital city in terms of economic success globally and is also one of the costliest states to live in. This is the reason why even a basic lifestyle can be expensive for low-income families. Single moms with one source of income might find it difficult to meet their ends. Fortunately, the state has affordable health insurance plans for single moms and their children.
How Can Single Moms Choose The Best Health Insurance In New York?
Single moms can choose the best health insurance policy for themselves and their family members depending on their financial or medical situation and the availability of healthcare plans in their region. While deciding on a plan you can use the following health insurance plan tires to make sure you get the right coverage for all your medical needs.
1. Gold Tier
Single moms who want to cover high medical costs should opt for gold and platinum plans. This is because gold and platinum healthcare plans are the most cost-effective plan which covers expensive drug prescriptions for those who incur higher medical costs. These plans come with expensive monthly costs however they offer the best medical benefits. Gold tiers have lower out-of-pocket maximums and deductibles.
2. Silver Tier
Low-income single moms who incur average medical costs should opt for silver plans. These are middle-ground policies that fall somewhere between gold and bronze plans in terms of medical benefits and monthly costs. Silver tier is a good choice for people who want a moderate level of healthcare coverage. Single moms who belong to low income can get an extra advantage by choosing silver plans.
3. Bronze Tier
Catastrophic and bronze plans are considered for single moms who are in good health and are not expecting a huge medical cost in the future. Young and healthy people generally opt for bronze and catastrophic healthcare plans. These are the cheapest options available in the New York marketplace with the highest deductibles. In other ways, you have to pay the full price for your routine healthcare expenses. You will also receive benefits such as free preventive care and can stay protected against high medical costs. Bronze plans are available readily throughout New York.
What Are The Available Health Insurance For Single Moms In NY?
Following is the list of health insurance for single moms in New York and how you can qualify for them.
1. New York Medicaid
Medicaid is a popular and widely known healthcare coverage designed for low-income families in New York who are unable to afford medical care due to financial constraints. New York Medicaid covers uninsured children below 18 years of age, disabled adults, seniors, and pregnant women.
As the state of New York is expanding the eligibility threshold of Medicaid the program includes New Yorkers who are in age between 19 to 65 and have an income less than 138% of the federal poverty level. Pregnant women belonging to any age and having an income less than 223% of the federal poverty level can get immediate medical coverage at selective Medicaid providers. Single moms who are applying for the Medicaid program in New York can visit the state-based marketplace called the NY State Of Health marketplace.
2. New York Child Health Plus (CHPlus)
Single mothers looking for healthcare coverage for their uninsured children in New York can opt for the New York Child Health Plus. The state of New York has designed this health insurance plan for children belonging to low-income families. Under the Affordable Care Act, the New York Child Health Plus covers children who are uninsured and belong to families less than 405% of the federal poverty level. In other words, single moms of two children should earn less than $88,900 per year to receive coverage.
The best thing about this program is that there is no monthly premium required for families whose household income is less than 1.6 times the federal poverty level. Households who lie in higher income brackets have to pay monthly premiums of $9, $15, $30, $45, or $60 per child monthly depending on their household size and income. You can apply for the program by visiting the NY State of Health marketplace.
3. Affordable Care Act
Popularly known as Obamacare the Affordable Care Act includes private health insurance plans for low-income communities including single moms. The establishment of this act has expanded the Medicaid program for low-income adults so single moms in New York can participate in the Medicaid program. Private health insurance plans included in the Affordable Care Act are also subsidized. Single moms who were unable to qualify for CHIP or Medicare programs can consider premium tax credits to offset the private health plan expenses.
Single moms who are unable to afford health insurance can visit healthcare.gov which is known as the health insurance marketplace. New York has its health insurance exchange. The healthcare.gov is a part of the Affordable Care Act to provide healthcare coverage to uninsured Americans.
4. Family Health Insurance Plan
Young adults who have become single parents can stay on their family’s health insurance plan to ensure proper coverage. Under the Affordable Care Act, kids can stay on their parent’s health insurance plan until 26 years of age. This also includes children who are married and have kids of their own. Single moms who are on their parent’s health insurance plan can receive coverage till 26 years of age.
You can stay on their plan if you are attending school, living separately from your parents, not financially dependent on your parents, have a child eligible to receive health insurance through your employer, or are married.
Single moms can avail of affordable health insurance plans through the New York State health insurance marketplace. In most cases, they can receive discounts if they belong to the low-income category and can show a robust financial need. Single moms having household income near or at the federal poverty level can receive low-cost or free healthcare insurance through government-funded programs like Medicaid or CHIP. The aforementioned resources will offer good coverage for single moms and their children if they can meet the eligibility criteria.