New York offers many options for health insurance. However it's important you choose the right plan. If your monthly premiums are low, and you don’t mind paying higher annualdeductibles, you might consider Catastrophic plans. These plans will cover 90% of the cost of medical care.
Catastrophic planning
Catastrophic policies for health insurance do not suit people who have high medical bills. These plans are low in premiums, but have higher out-of pocket costs. You can choose a catastrophic plan if you are under thirty years old or qualify for hardship exemptions. But keep in mind that you won't be able to receive premium tax credits on these plans. You should instead shop for plans with a higher metal level. This will ensure that you get better value for your money.
Catastrophic plans have monthly premiums that are as low as 1%
If you are looking for the lowest monthly premiums for health insurance in the state of New York, you may want to consider a catastrophic plan. These plans cover 100% for covered health care expenses, once you have reached your maximum deductible. This plan is best for those who only have a handful of medical expenses each year, or who don't have the financial means to pay for higher-cost plans.
Catastrophic plans have highest annual deductibles
Catastrophic plans have high annual deductibles and very low monthly premiums. They may be the most affordable health insurance option for people who want to cover the worst case scenario. However, they do not offer premium tax credits, so you may find a better value in a Bronze plan.
Catastrophic care plans cover 90% of the costs of care
For those with low incomes (or low monthly premiums), a catastrophic plan for medical insurance is the best option. The policy pays a substantial amount for emergency medical treatment, but only covers a portion of the person's healthcare expenses. The best Catastrophic Plans are for those under 25 and those who can qualify for the hardship exemption.
Platinum plans pay 90% of the cost of care
If you have large annual health expenses, a Platinum plan might be right. There will be a $500 deductible that you must pay before your plan kicks in. After that, you'll only pay $20 per office visit. This means that your total out-of-pocket costs may be several thousand dollars. It's quite expensive, but only 10% of the actual cost of your care is being paid. Here are some points to remember when you think of purchasing a platinum plan.
Silver plans pay 80% of care costs
Silver plans cover up to 80% of the cost for covered services. These plans can be offered by state-based marketplaces and individual health insurance companies. To be eligible for the individual market, these plans must meet certain requirements. These requirements include meeting the actuarial value of the plan. Standard silver plans have a deductible of $7.150 per year and a 30% coinsurance. There is also a $70 copayment for doctor visits. This plan is open to anyone with a income below the federal poverty threshold.
Bronze plans cover 80% of the care costs
Bronze plans cover 80% of the cost and are the most affordable. They are available in all 50 states, and the benefits vary depending on where one lives. Some of these plans have expanded benefits while others do not. These plans can be a good choice for those who are looking for cost-effectiveness as well as overall coverage. Bronze plans will usually make it clear if certain services are covered by a copay before the deductible.