Illinois Health Insurance

Last Updated on September 22, 2020 by Andrew Lee

Health insurance in Illinois for the tax year 2017 has considerably changed, compared with the previous year. This has a lot to do with the state embracing the Affordable Care Act, and of course, the election of the new president. In this guide, you’ll learn of the significant drop in the state’s uninsured rating, as well as the rate increases, and the resulting projected premium averages for a specific group of individuals.

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Does Illinois perform well in health rankings?

For the most part, the state’s health ratings are within average, as shown in its 2015 Commonwealth Fund’s Scorecard on State Health System Performance. During the same year though, it didn’t perform as well within the “Available Hospital Use & Costs” category (ranking 46th). Because of this, its ranking went down to 26th (out of 51). In all other indicators (Access, Prevention & Treatment, Healthy Lives, and Equity), IL received quintile 2.

Here are some of the notable findings of the study:

  • Mortality amenable to healthcare: 87 out of 100,000 people
  • Breast cancer fatalities: 22.2 out of 100,000 women
  • Colorectal cancer fatalities: 15.9 out of 100,000 individuals
  • Percentage of adult smokers: 16%
  • Adult obesity: 29%
  • Obesity in children aged 10-17: 34%

The organization also charted these statistics:

  • 14% of adults (19 to 64 years old) don’t have insurance, compared with the national average of 15%
  • 4% of children (infants to 18 years old) are uninsured, as opposed to the countrywide average of 6%
  • 12% of the adult population chose not to obtain insurance due to the high costs associated with it
  • 13% of adults had expensive out-of-pocket medical bills

Coverages available and the portion insurers will reimburse

With a health insurance plan, you and your carrier will share the bill. However, the percentage that your insurer will reimburse depends on the type of metal tier you obtain. Below is the insurer-covered portion for each plan:

Bronze – 60%

Silver – 70%

Gold – 80%

Platinum – 90%

Equipping yourself with the knowledge of much you’ll pay toward your premiums will help you choose the most suitable metal plan.

According to the United States Department of Health & Human Services, Illinois residents have a projected premium average of:

  • Average lowest-cost, monthly premium within metal level: $431
  • The average net premium for the lowest-cost plan within the metal tier: $158
  • Second-lowest silver before advance premium tax credit (for a 27-year old with a $25,000 household income): $298
  • Second-lowest silver before advance premium tax credit (for a 27-year old with a $25,000 household income): $142
  • Second-lowest silver before advance premium tax credit (for a family of four with a $60,000 household income): $1,078
  • Second-lowest silver before advance premium tax credit (for a family of four with a $60,000 household income): $405

Uninsured ratings in IL: Then and now

Location is one of the major factors insurance companies use to compute rates. This plays a huge role in the height premiums reach in each state.

When you take a look at statistics, you’ll see that every year, rates increase in all the 50 states, plus the District of Columbia. The main difference is the hike percentage. In general, though, carriers offer better premiums to areas that have low uninsured ratings.

In a U.S. Department of Health & Human Services report, the Land of Lincoln, with an estimated population of 12,859,995 (2015, latest data), had a 7.1% uninsured rating back in 2015. In 2010, this was up at 13.8%. As you can see, there was a significant drop of 6.7%, accounting for the 850,000 individuals who became covered in 2015.

In the event you missed the open enrollment for 2017, you can still apply for a health insurance plan through other means. Check out the private insurers within your city and compare their offers extensively. You should also inquire about any discounts you may qualify for so that you can cut back on costs, but not on coverage.

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