People searching for plans should consider their budget, health, doctors and a variety of other factors before picking a plan.
People searching for plans on the government marketplace should consider their budget, health, doctors and a variety of other factors before picking a plan. get their health insurance through the ACA, commonly known as “Obamacare.” The number swelled during the coronavirus pandemic after Congress passed generous subsidies to make coverage more affordable.
Next, check on the plan’s deductible — that’s what you pay up front for health services before your insurance begins to share some of the remaining costs for the year. “Consider whether you are going to have an expensive year,” said Kelly Rector, an insurance broker and president of Missouri-based Denny and Associates Inc. “If you know you’re going to be hitting that out-of-pocket max no matter what, maybe you look at the lower premiums and higher deductible plan.”Do you want to continue seeing a favorite doctor or need a prescription drug covered on your plan?
There are four levels of plans offered: bronze, silver, gold and platinum. Bronze plans have the lowest premiums but the highest out-of-pocket costs. Premium costs increase as you go up the medal ladder, but deductibles are lower.
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