December 18, 2018

Health Care Exchange... What Plans Are Available?

There are 5 options to choose from.

  • Catastrophic Care:  This plan is for people under the age of 30 who want the lowest premiums.  Certain types of preventive care will have a very low cost.  But uou will have to pay several thousand dollars for any health care you receive before the insurance begins to pay.  Once the insurance does begin to pay, it will pay half the cost of care until you have spent $6,350, or double that for a family.  After that, you are covered for 100% of any remaining expenses.  
  • Bronze:  Still a large deductible.  Then this plan will pay 60% of medical expenses until you have spent $6,350 as an individual or $12,700 as a family.  Then, as above, it will pay100% of any remaining expenses.
  • Silver:  Higher premium than bronze, but with a lower deductible.  This plan pays 70% of medical expenses.  The out-of-pocket maximums are the same as the Bronze Plan.
  • Gold:  Higher premium than Silver plan, but with lower deductibles.  This plan will pay 80% of medical expenses.  The out-of-pocket maximums are the same.
  • Platinum:  This plan has the highest premium, but comes with the lowest deductible.  It will pay 90% of medical expenses.  The out-of-pocket maximums are the same.

Note:  There will be lower out-of-pocket maximums for individuals making less than $28,725 and families making less than $58,875