Navigating New Jersey Health Insurance

new-jersey-health-insuranceWith the passage of the Patient Protection and Affordable Care Act (PPACA), every individual in the country must either have health insurance or must pay a fee.  This is true for those living in New Jersey.  While navigating the New Jersey health insurance industry was optional before, it is now mandatory for everyone not wanting to have to pay a fee to the US government.  So, what are your options when it comes to New Jersey Health Insurance?  Let’s take a moment to find out.

The Basics

As stated above, unless you are within select groups that are exempt, health insurance is mandatory.  The NJ insurance codes can be consulted if you are not sure whether or not the insurance provider is legally allowed to operate in the state.  Health insurance both in New Jersey as well as around the US is highly dependent on your current employment status.  Why does this matter?  Let’s find out.

Employer Health Insurance

One of the leading providers of New Jersey health insurance are jobs where the insurance is provided to their workers through packaged deals sold to the employer.  The benefit of this system is that health insurance is removed prior to being taxed.  In addition, the employer gets a discount on health insurance and they have an incentive for hiring more competent and skilled employees.  The downside is that an increasing number of employers are not providing health insurance for their workers.  As a result, many residents, including potentially yourself included, will have to look for health insurance in other places.

The National Exchange

There is a national exchange set up by the PPACA specifically for the purpose of helping individuals get the health insurance they need.  The PPACA has created an exchange where you can go online in order to find an insurance plan that works for you.  Offering credits and incentives to save on the amount you pay, the national exchange is not perfect.  However, it offers NJ residents alternative options for health insurance, providing a single place for all this information.  The benefit of this system is that you as a customer can select from what is offered.

Other Options For New Jersey Health Insurance

The national exchange and employer health insurance options are great if you have a job that pays well.  However, as seen in NJ as well as other states, the amount employees are getting paid the level of compensation they are receiving continues to decrease.  Living increasingly desperate lives on the margins, people working full time are finding it hard to make enough to support themselves.  Medicaid and Medicare are designed for this purpose, however, the government of New Jersey continues to cut eligibility, eliminating even this option for those who struggle.  
However, if you make under a certain amount and you are below 65, then you can qualify for Medicaid.  Medicaid will help cover the costs of New Jersey health insurance as you get back on your feet and find a job.  If you are over the age of 65, then Medicare exists to help you meet your medical needs.