Access Health CT, a new marketplace for health insurance in Connecticut, is being created. This marketplace will let individuals and small business buy insurance at federally-subsidized rates. The marketplace will officially open on January 1, 2012. There are many factors you need to consider when choosing health insurance.
Plans available
Access Health CT plans offer ten essential benefits. Additionally, some services are offered at no cost. These plans have different monthly premiums. Compare the prices of these plans by looking at the metal level. Although the monthly premium is low, this catastrophic plan covers only 60% of your costs. This plan is for people who require extensive medical treatment, such as a hospital stay and an acute illness. You can also enroll in this plan at any hour of the day, as there are no coverage limits.
Access Health CT has plans that are suitable for families and individuals. Silver plans include a wide range of services, and have lower deductibles on prescription drugs. Silver plans are best for those who only require certain services occasionally. You may also qualify for Cost-Sharing Reductions (CSRs), which lower the out-of-pocket costs for deductibles and coinsurance. To be eligible for these low-cost options, you will need to enroll in a Silver plan.
Plan costs
Access Health CT has many plans available. Each plan comes with its own limitations and benefits. Each plan comes with a 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 catastrophe plans that are available to residents under 30 years of age and those who have been granted a hardship exemption. While this plan does not offer as much coverage, it has a lower premium than the deductible. There are also varying levels and types of financial assistance.
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 are eligible, it is possible to switch to Covered Connecticut. But, tax credits may not be available to you. You should wait for the Special Enrollment Period.
Optional ways to enroll in plans
Access Health CT will be Connecticut's new marketplace for health insurance. This will enable individuals and small businesses to purchase affordable coverage at federally subsidized rates. Access Health CT plans are a great choice if your plan is not in force or you need to get insurance.
There are many options available to you when you sign up for a policy. The options available to you will depend on your income and eligibility. You may be eligible for a subsidy depending on your status as caregiver. You may be eligible to receive a plan through a company partner, such HUSKY. There are overlapping networks of providers for both companies. 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 can help you afford your health insurance premiums. It is available for individuals and families with incomes up to 138% of the federal poverty level. These individuals can use the credit for a bronze or silver, gold, and platinum plan of health insurance.
Once you have signed up for an insurance plan, you can get the credit immediately. 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. Your income may determine how much tax credits you are eligible to receive each year.