There are several types of health plans available in Nevada. Some have lower premiums, while others have higher maximum deductibles. You can select a plan to fit your needs depending on what you need. For example, an HMO plan covers the cost of most doctor's visits. But, emergency care is not covered. HMO plans tend to be cheaper than other types of healthcare plans but come with higher deductibles. EMO plans are similar to HMO plans, but do not require referrals from your primary physician.
Silver-tier plans come with lower premiums
Silver-tier health insurance plans in Nevada offer lower premiums than those of the gold-tier plan. Families with incomes of up to 250% of the federal poverty level may qualify for cost-sharing reductions under a Silver plan. For the cost of a Silver, a family could get coverage under a Gold plan. Some plans also cover office visits without a co-pay.
Gold-tier plans have higher premiums
Nevada's premiums for Gold-tier health insurance plans is generally higher that those for Bronze-tier plans. Nevada's average premiums for 40-year-olds are $578 compared to $629 in a Bronze plan. When you factor in cost-sharing cuts, premiums will be lower. Low income people may be eligible for cost-sharing cuts, which lower the amount they must pay in copayments, codeductibles and coinsurance.
The deductibles for Bronze-tier plans are lower
It is important to look at the deductibles when comparing different health insurance plans. Although Bronze-tier plans are cheaper in Nevada in monthly premiums but have higher limits, the cost of bronze-tier plans is lower in Nevada. These plans will cover approximately 40% of medical expenses. This plan is for those who have a healthy lifestyle and wish to save money on their monthly premiums. The downside is that bronze plans only cover medical emergencies. This plan is not for those who have a history of serious medical conditions.
Medicaid is free in Nevada
Medicaid is free coverage for low-income people and those with special medical requirements. This state program provides medical coverage to low-income individuals and families through monthly payments sent directly to health care providers. In order to be eligible, applicants must reside in Nevada and be either a U.S. citizen (or permanent resident). You may also be eligible for other qualifying circumstances. Some income requirements may also apply to applicants.
Medicare in Nevada is cheaper
Nevada has over 558,000 Medicare-enrolled citizens. Nevada offers several Medicare plans. There are low-cost Medicare Supplement Plans, as well as comprehensive Medicare Advantage Plans. These plans may be used to help cover out-of–pocket expenses for those who are eligible for Medicare beginning January 1, 2020.
Silver-tier plans offer a health savings account
Many Silver-tier health plans in Nevada also include a health savings account, which can be a very appealing feature to people who are struggling to pay for health care. For Silver plans, those with incomes between 138% and 250% below the federal poverty level can qualify for cost-sharing cuts. This allows these families to get coverage equivalent to that of a Gold plan at a fraction of the cost.