Access Health CT will be the state's new health insurance market. This marketplace will allow individuals and small businesses to buy health insurance at federally subsidized rates. The new marketplace is set to open on January 1st. When selecting a health insurance policy, there are many things to consider.
Plan options available
Access Health CT provides plans that include ten essential medical benefits. Some services can be provided for free. These plans come with different monthly premiums. You can compare the cost of the different plans by checking out the metal level. Although the monthly premium is low, this catastrophic plan covers only 60% of your costs. 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 has plans that are suitable for families and individuals. Silver plans provide coverage for a range of services with lower deductibles. Silver plans might be worth considering if you only use certain medical services from time to time. Cost-Sharing Reductions may be available, which reduce out-of pocket costs for coinsurance and deductibles. These lower-cost options are only available to those who have enrolled in Silver plans.
Plan costs
Access Health CT Marketplace offers several plans. All have their benefits and drawbacks. 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 are for people with serious medical needs and cover 90 percent. There are also catastrophic plans, which are available to residents under the age of 30 and those who qualify for a hardship exemption. While this plan does not offer as much coverage, it has a lower premium than the deductible. Additionally, the plans offer varying levels financial assistance.
Access Health CT plans are available to those who are already covered under an employer-sponsored plan. You will need to wait for the fall open enrollment period before you can sign up. If you are eligible, you can switch to the Covered Connecticut plan. However, you may not qualify for tax credits, so you should wait until the Special Enrollment Period to do so.
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. Access Health CT can be a great way to save money if you don't have insurance or are looking to replace your existing plan.
You'll have the ability to choose from a wide range of plans when you enroll. Your income and eligibility will determine the options you have. A subsidy may be available depending on the status you have as a caregiver. A partner company such as HUSKY can also help you get a plan. Both companies share the same network of providers. This means that if you have a family member on each plan, you can choose to visit the same medical provider or doctor.
Tax credits available
The tax credit is a tool to help people afford premiums for health insurance. It is available for individuals and families with incomes up to 138% of the federal poverty level. The credit is available to those who earn the required amount. They can then use it to buy bronze, silver or gold health insurance plans.
The credit is available immediately after enrolling in an insurance plan. The credit is available immediately after you enroll in an insurance plan. You must still pay your monthly premiums. But, you can apply for a tax credit for premiums to get the money as soon as you sign up. Depending on your income, you may be able to receive up to $1,000 per year in tax credits.