Affordable Care Act health insurance plans are now classified as ‘metal tiers’ to help consumers easily compare health insurance plans. These tiers are recognized as, “Platinum,” “Gold,” “Silver,” and “Bronze.”

“Platinum” health plans are higher in monthly premium costs, but offer more coverage when services are need, which means there are less “out-of-pocket” expenses when a person sees a doctor, gets admitted to the hospital, has lab work done, etc. “Bronze” plans cover a small portion of medical expenses at a much lower monthly premium, meaning “out-of-pocket” expenses are much higher when individuals receive medical services.

If an individual is in need of medical services to be mostly covered by his or her insurance carrier because they see a doctor often, foresee a major medical surgery/procedure being done in the near future, or simply want to have “top-notch” coverage, then a “Platinum” or “Gold” plan is the best route to go. If an individual does not have much concern for having medical service costs covered by a health insurance plan and would like to keep a minimal premium/monthly payment, then a Silver or Bronze plan would be better suited for him or her.

Plan coverages:

Platinum – 90% of expected costs are covered by insurance carrier

Gold – 80% of expected costs are covered by insurance carrier

Silver – 70% of costs are covered by insurance carrier

Bronze – 60% of costs are covered by insurance carrier

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