The Affordable Care Act, also known as Obamacare, or the marketplace, was signed into law in 2010. The ACA was a large initiative based on years of ideas from both political parties and the healthcare industry. The Affordable Care Act (ACA) health plans have metal levels — bronze, silver, and gold — that help offer clarity. So, what do metal levels really mean? “‘Metal level’ just refers to how much insurance is covering and how much the insured is paying.
Here’s the breakdown for covered services:
- Gold: Your insurance company pays 80%, and you pay 20%.
- Silver: Your insurance company pays 70%, and you pay 30%.
- Bronze: Your insurance company pays 60%, and you pay 40%.
Gold Plan
All gold plans offer the same set of essential health benefits, quality and amount of care. The differences are how much your premium costs each month, what portion of the bill you pay for things like hospital visits or prescription medications, and how much your total out-of-pocket costs are. Gold Plans have a higher monthly premium and often lower out-of-pocket costs than silver plans.
Silver Plan
When considering a silver health insurance plan, it’s crucial to carefully read the plan’s details, review its network, and evaluate your own healthcare needs and budget. It may also be helpful to compare silver plans with other metal tiers (bronze and gold) to determine which offers the best value for your specific situation.
Bronze Plan
This plan category describes individual health insurance plans with the least expensive premiums and the highest copay and coinsurance amounts. Additionally, bronze health plans often have higher deductibles. Because bronze plan monthly premium costs are generally lower—but the out-of-pocket costs (copays, deductibles, etc.) are higher—these plans are well suited for people who are healthy and do not require frequent visits to a doctor.
Feel free to click below and browse the marketplace and see what plans are available in your zip code. The hold times at the marketplace get long and oftentimes people feel rushed. You are able to view the brochures of the plans as well to get a better idea if the the plan would be a good fit for you and /or your family.
** You can actually enroll in a plan right here on this platform if you would like too. **
Click here to visit marketplace and enroll and/or preview plans.
When you finish enrolling in the plan, you will receive an email confirmation from the insurance company (BCBS, UHC, etc) with the instructions to set up the first payment. It is important to notify them by phone or by the email provided to take this last step to finish the enrollment.
If you encounter any problems or issues with enrollment or have any questions about the ACA plans, please feel free to reach out to us. Just click the button below. It will take you to the contact page where you can leave us a message or give us a call or a text message.
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Have any questions? We are always open to talk about your healthcare and how we can assist you in any way.