NJ Health Insurance: Everything You Need to Know

Health insurance is an important investment to protect yourself and your family from unexpected medical expenses. If you’re looking for health insurance in New Jersey, you have several options available. In this article, we’ll cover everything you need to know about NJ health insurance, including the types of plans available, the costs involved, and how to enroll.

Types of NJ Health Insurance Plans

There are several types of health insurance plans available in New Jersey, including:

Additionally, New Jersey offers a state-based health insurance plan called NJ FamilyCare, which provides coverage for families and children who meet certain income and eligibility requirements.

Costs of NJ Health Insurance

The cost of NJ health insurance varies depending on several factors, such as your age, income, and the type of plan you choose. Here’s a breakdown of the costs you can expect:

Monthly Premiums: This is the amount you pay each month for your health insurance coverage. The cost of your monthly premium will depend on your plan and your income.

Deductibles: This is the amount you must pay out of pocket before your insurance coverage kicks in. For example, if you have a $1,000 deductible, you’ll need to pay the first $1,000 of your medical expenses before your insurance company starts covering the costs.

Copayments: This is a fixed amount you pay for certain medical services, such as office visits or prescription drugs. Copayments are usually lower than the cost of the service, but they can add up quickly.

Coinsurance: This is the percentage of the cost of medical services that you’re responsible for paying after your deductible has been met. For example, if you have a 20% coinsurance for a $1,000 medical service, you’ll need to pay $200 out of pocket, and your insurance company will cover the remaining $800.

Out-of-Pocket Maximum: This is the maximum amount you’ll need to pay out of pocket for medical expenses each year. Once you’ve reached your out-of-pocket maximum, your insurance company will cover the remaining costs.

How to Enroll in NJ Health Insurance

If you’re interested in enrolling in NJ health insurance, there are several ways to do so:

Through Your Employer: If your employer provides health insurance benefits, you can enroll during your company’s open enrollment period.

Through Healthcare.gov: You can enroll in individual or family health insurance plans through the federal marketplace, Healthcare.gov. Open enrollment typically takes place from November 1 to December 15 each year.

Through NJ FamilyCare: If you’re eligible for NJ FamilyCare, you can apply online or by contacting their customer service center.

FAQ

Q: Is health insurance mandatory in New Jersey?

A: Yes, as of 2019, New Jersey has a state individual mandate that requires residents to have health insurance or pay a penalty.

Q: What is NJ FamilyCare?

A: NJ FamilyCare is a state-based health insurance program that provides coverage for families and children who meet certain income and eligibility requirements.

Q: What is the penalty for not having health insurance in New Jersey?

A: In 2021, the penalty for not having health insurance in New Jersey is 2.5% of your household income or $695 per adult and $347.50 per child, whichever is greater.

Q: When is open enrollment for NJ health insurance?

A: Open enrollment for individual and family health insurance plans takes place from November 1 to December 15 each year.

Q: Are pre-existing conditions covered under NJ health insurance?

A: Yes, under the Affordable Care Act, health insurance companies are required to cover pre-existing conditions.

Now that you have a better understanding of NJ health insurance, you can make an informed decision about which plan is right for you and your family. Whether you choose an HMO, PPO, POS, or EPO plan, the most important thing is to make sure you have coverage that will protect you from unexpected medical expenses.