What types of plans are available?
All health insurance plans sold to individuals and small businesses must include certain benefits. These benefits are often referred to as the “essential health benefits.” This means that all plans, regardless of the level of coverage, will generally have the same benefits.
They may also differ by level of coverage or what is referred to as “actuarial value.” Actuarial value determines how you and your plan share the costs of care, such as through cost sharing features of your plan (like deductibles, co-pays, etc.). There are five levels of coverage you may select from when purchasing a plan through the marketplace – Catastrophic (if you qualify), Bronze, Silver, Gold, and Platinum. These levels of coverage have nothing to do with the quality or amount of care you receive.
The actual percentage you pay for your healthcare will depend on the services used during the year.
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