Access Health CT is a new state-run health insurance marketplace. This marketplace will let individuals and small business buy insurance at federally-subsidized rates. The new marketplace is set to open on January 1st. There are many factors you need to consider when choosing health insurance.
Plans Available
Access Health CT has plans that provide ten essential health benefits. Other services are available at no charge. These plans have different monthly rates. You can compare the cost of the different plans by checking out the metal level. While having a lower monthly premium, the catastrophic plan offers only 60 per cent coverage. This plan is suitable for those who need extensive medical attention, such an emergency room visit or hospital stay. This plan also has lower coverage limits, so you can enroll at any time during the year.
Access Health CT offers plans both for individuals and families. Silver plans provide coverage for a range of services with lower deductibles. If you only need to use certain medical services every now and then, you may want to consider a Silver plan. Cost-Sharing Reductions are available to help lower your out-of-pocket deductibles or coinsurance. However, you must enroll in a Silver level plan in order to qualify for these lower-cost options.
Plans cost
Access Health CT has many plans available. Each plan comes with its own limitations and benefits. Each plan has its own monthly premium, deductible, and copay amount. The platinum plan offers comprehensive coverage and is recommended for those who want it. The platinum plan covers 90 percent of the care costs and is typically for people who have serious health issues. There are also catastrophic plans available for residents below 30 and those who meet the hardship exemption criteria. Although this plan isn't as comprehensive, it offers a lower premium and a lower deductible. These plans come with different levels of financial aid.
Access Health CT plans are available to those who are already covered under an employer-sponsored plan. However, you will need to wait until the fall open enrollment period to sign up for this plan. If you're eligible, you may also be able to switch to Covered Connecticut. To be eligible for tax credit, however, you might not qualify. Wait until the Special Enrollment period.
There are many options for enrolling in plans
The new health insurance marketplace in Connecticut, Access Health CT, will allow individuals and small businesses to buy affordable health insurance coverage through federally subsidized rates. You should consider enrolling in Access Health CT if you are without insurance or need to replace it.
You have the option to select from many options when you sign up for a plan. Your income, eligibility and other factors will impact the options that you have. Your status as a caregiver may qualify you for a subsidy. You may be eligible to receive a plan through a company partner, such HUSKY. There are both overlapping networks that provide services for both companies. This means that you can choose to see the same doctor or provider even if your family members are on both plans.
Tax credits available
The tax credit can help you afford your health insurance premiums. The credit is available to families and individuals earning up to 138% of the federal poverty threshold. This credit can be used to buy a bronze, gold, platinum, or silver health insurance plan.
You can apply for the credit right away after you enroll in an insurance plan. 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. You may be eligible for tax credits up to $1,000 each year, depending on your income.