The state of Connecticut is creating a new health insurance marketplace called Access Health CT. This marketplace will allow individuals and small businesses to buy health insurance at federally subsidized rates. The marketplace will open on January 1. When choosing a plan for health insurance, there are many factors to take into consideration.
Plans offered
Access Health CT provides plans that include ten essential medical benefits. Some services can be provided for free. These plans have different monthly rates. Check out the metal level for a comparison of the costs. The catastrophic plan with the lowest monthly premium has only 60 percent coverage. This plan is ideal for those who require intensive medical care, such a hospital stay or an aggravated illness. These plans have lower coverage limits and can be enrolled at any time throughout the year.
Access Health CT provides plans for both individuals, and families. Silver plans offer a wider range of services and lower deductibles for prescription drugs. Silver plans can be beneficial if you need only certain medical services on occasion. You may also qualify for Cost-Sharing Reductions (CSRs), which lower the out-of-pocket costs for deductibles and coinsurance. These lower-cost options are only available to those who have enrolled in Silver plans.
Plans cost
Access Health CT has many plans available. Each plan comes with its own limitations and benefits. Each plan has its monthly premium, copay amount, and deductible. For those who need comprehensive coverage, the platinum plan is a good choice. Platinum plans provide coverage for 90 percent of healthcare costs. They are usually designed for those with severe health conditions. There are also catastrophe plans that are available to residents under 30 years of age and those who have been granted a hardship exemption. This plan is less comprehensive but still has a low premium, and lower deductible. These plans come with different levels of financial aid.
Access Health CT plans can be switched to if you are currently covered under an employer sponsored plan. This plan is only available to those who are eligible. If you are eligible, you can switch to the Covered Connecticut plan. To be eligible for tax credit, however, you might not qualify. Wait until the Special Enrollment period.
Optional ways to enroll in plans
Access Health CT, Connecticut's newest health insurance marketplace, will offer affordable health insurance coverage for individuals and small-businesses at federally subsidized rates. You should consider enrolling in Access Health CT if you are without insurance or need to replace it.
You can choose from many options once you have signed up for a plan. Your income, eligibility and other factors will impact the options that you have. In some cases, you may be eligible for a subsidy based on your status as a caregiver. You may also be eligible for a plan through a partner firm, such as HUSKY Healthcare. There are overlapping networks of providers for both companies. You can visit the same doctor or medical provider if you have a family member who is covered by each plan.
Tax credits available
The tax credit is a way to help people afford health insurance premiums. It is available for individuals and families with incomes up to 138% of the federal poverty level. These individuals can use the credit for a bronze or silver, gold, and platinum plan of health insurance.
Once you have signed up for an insurance plan, you can get the credit immediately. In most cases, you must pay for your share of monthly premiums, but you can apply for a premium tax credit to get this money right away. Your income may determine how much tax credits you are eligible to receive each year.