One of the aims of Health Care Reform was to standardize deductibles and limits on policies, freeing the consumer from the total confusion created by multiple companies with multiple plans having multiple deductibles and coinsurance amounts. One of the ways it tries to accomplish this is through the Metallic Platinum, Gold, Silver and Bronze Plan levels, discussed below.
There are four metal levels of coverage provided under the Marketplace and outside of it. The levels are Bronze, Silver, Gold and Platinum. Each of these types of coverage provide different levels of insurance coverage, with platinum plans offering the highest levels of coverage and a bronze plan the lowest.
Bronze and Silver plans require patients to pay more of the costs, while Gold and Platinum plans have higher premiums but lower out-of-pocket costs.
Premiums for different plans at the same level vary from one insurance company to another, based on the overall use of services by enrollees, the price of health care services negotiated by each insurance company, and the extent of covered services, among other reasons.
Not sure which plan is the best for you and your family? Call us now at (504) 441-7283 to speak to a Dan Burghardt Health Insurance Specialist. We'll be happy to explain anything you are not sure of or provide further information that may not be covered here.