INSURANCE GROUP INC.
(850) 244-3472

Metal Levels

The health insurance marketplace provides four tiers of health coverage known as “metal” levels: bronze, silver, gold, and platinum.

 

Generally, bronze plans have the lowest monthly premiums (your monthly insurance bill), but they have also have high deductibles and out-of-pocket costs. In most cases, bronze plans do not include co-pays for doctor visits or any other form of co-payment.

 

In contrast, platinum plans have the highest monthly premiums but provide low deductibles, co-payments, and significantly mitigate out-of-pocket costs.

 

The cost sharing between metal plans and the insurance company

 

Insurance Company’s Cost Share                 Your Cost Share

 

Bronze                                                60%                                                     40%

Silver                                                  70%                                                     30%

Gold                                                    80%                                                     20%

Platinum                                             90%                                                     10%

 

In order to reduce your monthly premium you may apply for a tax credit (government subsidy). In order to qualify for a subsidy, your household income must be within the parameter of 100-400% of the Federal Poverty Level (FPL). Individuals earning less than 100% of the FPL are ineligible for subsidized health coverage through the marketplace, and must enroll in Medicaid. Applicants with a household income above 400% of the FPL do not qualify for subsidized healthcare.

 

IMPORTANT INFORMATION:

Many people are aware of the subsidies being offered by the government, but very few know that the government offers an additional benefit known as Cost-Share-Reduction (CSR). In order to qualify for CSR benefits, your household income must fall between 100-250% of the FPL. Consequently, people that go online and sign up by themselves are failing to take     advantage of the benefits our new healthcare system provides. The Health Insurance Marketplace is a difficult website for any layman to navigate. Even if you’ve managed to enroll in a healthcare plan via healthcare.gov it is highly likely that you did not elect the coverage that would best suit your needs. Unless you’re a licensed health insurance agent; your failure to identify the multiple nuances throughout the application consequently prohibit enrolling in optimal coverage that is personalized to fit your needs.

 

**ADVICE TO STRONGLY CONSIDER**

Do not settle for lackluster coverage by enrolling yourself through healthcare.gov. Find your local agency and have an agent take you through the process… A good agent will be familiar with the many facets of the enrollment process and present you with the best coverage available… REMEMBER – allowing an insurance agent to write your insurance policy is absolutely free… Take this unbiased advice and utilize the expertise of your local agents.

 

For further information contact Simerly-Ayers Insurance Group at 850.244.3472.