What are the 3 levels of insurance?

Levels of plans in the Health Insurance Marketplace®: Bronze, Silver, Gold, and Platinum. Categories (sometimes called “metal levels”) are based on how you and your insurance plan split costs. Categories have nothing to do with quality of care. (“Catastrophic” plans are available to some people.)

Which health plan tier has the highest premiums?

Platinum plans
Platinum plans usually have the highest premiums, but your insurance typically pays for more and may offer coverage for more health care services. It’s important to know that these tiers don’t represent the quality of medical care that you receive. All plans need to cover the same 10 essential health benefits.

Is bronze or silver better for health insurance?

If you typically use minimal health care services, you may be willing to risk the higher deductible of a bronze plan, which is likely to top $5,700, compared with about $3,000 for a silver plan. (Overall, bronze plans pay 60 percent of health care expenses, on average, while silver plans pay 70 percent.)

Which plan is better bronze silver or gold?

Bronze plans: lower monthly payments, but higher out-of-pocket costs. Silver plans: monthly payments lower than a gold plan, but more than bronze. Gold plans: higher monthly payments, but lower out-of-pocket costs.

What is the metal level for health insurance?

Under Obamacare, health insurance plans have a metallic level that indicates the level of coverage. Under the Affordable Care Act (ACA or “Obamacare”), each health insurance plan is assigned a metallic level. The bronze, silver, gold, and platinum benefit levels actually refer to a plan’s actuarial value (AV) level.

What is the silver plan for Obamacare?

ObamaCare’s Silver Plan is a type of Metal Plan on the Health Insurance Marketplace. Silver Plans qualify for both Tax Credits and Cost Sharing subsidies. Other Metal Plans include Bronze, Gold, and Platinum.

What is the bronze plan coverage?

Bronze plans are a category of coverage in the individual health insurance marketplace. They have to cover certain services and can be used with certain subsidies. And, as you may have noticed, they have the lowest premiums. To learn more about bronze plan coverage, costs, and more, keep reading.

What is silver plan health insurance?

The silver health insurance plan is one of four types of metal level plans as outlined by the Affordable Care Act. These metal level plans are based on the share of healthcare costs and are not related to the quality of care, provider network or the amount of care you receive from each health insurance plan.