Access Health CT, a new marketplace for health insurance in Connecticut, is being created. This marketplace will let individuals and small business buy insurance at federally-subsidized rates. The marketplace will open on January 1. There are many things you should consider when selecting a healthcare insurance plan.
Plans available
Access Health CT has plans that provide ten essential health benefits. Other services are available at no charge. These plans come with different monthly premiums. Check out the metal level to see how the various plans compare. While having a lower monthly premium, the catastrophic plan offers only 60 per cent coverage. This plan is for people who require extensive medical treatment, such as a hospital stay and an acute illness. This type of plan has lower coverage limits. You can enroll anytime of the year.
Access Health CT provides plans for both individuals, and families. Silver plans cover a variety of services and have smaller deductibles for prescription drugs. Silver plans might be worth considering if you only use certain medical services from time to time. Cost-Sharing Reductions are available to help lower your out-of-pocket deductibles or coinsurance. For these options to be available, you must sign up for a Silver level plan.
Plan costs
Access Health CT market offers several plans. Each plan has its benefits and limitations. Each plan has its own monthly premium, deductible, and copay amount. For those who need comprehensive coverage, the platinum plan is a good choice. Platinum plans cover 90 percent of care costs and are typically designed for people with serious health needs. You can also get catastrophic plans for residents younger than 30 years old and those who are eligible for a hardship exemption. While this plan does not offer as much coverage, it has a lower premium than the deductible. The plans also come with varying levels of financial assistance.
Access Health CT is available for those currently covered by employer-sponsored plans. For this plan to become available, you will need wait until fall open enrollment. If you're eligible, you may also be able to switch to Covered Connecticut. However, you may not qualify for tax credits, so you should wait until the Special Enrollment Period to do so.
You have options to enroll in plans
Access Health CT will be Connecticut's new marketplace for health insurance. This will enable individuals and small businesses to purchase affordable coverage at federally subsidized rates. Access Health CT plans are a great choice if your plan is not in force or you need to get insurance.
You can choose from many options once you have signed up for a plan. Your income and eligibility will affect the choices you have. Some cases may allow you to qualify for a subsidy due to your status of caregiver. You may be eligible to receive a plan through a company partner, such HUSKY. Both companies share the same network of providers. If you have a relative on either plan, you can choose the same physician or medical provider.
Tax credits available
Tax credit can be used to help individuals and families afford their health insurance premiums. It is available to individuals and families earning up to 138 percent of the federal poverty level. These people can apply the credit to purchase bronze, silver and gold or platinum insurance plans.
The credit can be used immediately after signing up for an insurance program. While you are required to pay for your monthly premiums in most instances, you may be eligible for a premium tax credit. Depending on your income, you may be able to receive up to $1,000 per year in tax credits.