Access Health CT will be the state's new health insurance market. The new marketplace will allow small businesses and individuals to purchase health insurance at federally sub-subsidized rates. The new marketplace is set to open on January 1st. There are many things you should consider when selecting a healthcare insurance plan.
Plans Available
The plans available through Access Health CT cover ten essential health benefits and some services are provided at no cost. The monthly premiums for these plans vary. The metal level allows you to compare the costs of different plans. While having a lower monthly premium, the catastrophic plan offers only 60 per cent coverage. This plan is best for those who require extensive medical care such as hospitalizations or acute illnesses. You can also enroll in this plan at any hour of the day, as there are no coverage limits.
Access Health CT provides plans for both individuals, and families. Silver plans cover a variety of services and have smaller deductibles for prescription drugs. If you only need to use certain medical services every now and then, you may want to consider a Silver plan. Cost-Sharing Reductions may be available, which reduce out-of pocket costs for coinsurance and deductibles. You must be enrolled in a Silver-level plan to be eligible for these lower-cost options.
Plans cost
Access Health CT Marketplace offers several plans. All have their benefits and drawbacks. Each plan has its own monthly premium, deductible, and copay amount. The platinum plan offers comprehensive coverage and is recommended for those who want it. Platinum plans provide coverage for 90 percent of healthcare costs. They are usually designed for those with severe health conditions. There are also catastrophic plans, which are available to residents under the age of 30 and those who qualify for a hardship exemption. This plan is not as comprehensive but offers a lower premium with a lower deductible. You can also get financial assistance in varying amounts.
Access Health CT plans are available to those who are already covered under an employer-sponsored plan. This plan is only available to those who are eligible. You may be eligible to change to the Covered Connecticut program. You may not be eligible for tax credits so wait until the Special Entry Period.
You have options to enroll in plans
Access Health CT is a new Connecticut health insurance marketplace that will allow individuals and small business to obtain affordable health insurance coverage through federally sub-subsidized rates. Access Health CT is a great option if you're currently without insurance, or need to change your current plan.
You can choose from many options once you have signed up for a plan. Your income and eligibility will determine the options you have. In some cases, you may be eligible for a subsidy based on your status as a caregiver. You may be eligible to receive a plan through a company partner, such HUSKY. 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 way to help people afford health insurance premiums. It is available to individuals and families earning up to 138 percent of the federal poverty level. People who earn this amount can use the credit to purchase a bronze, silver, gold, or platinum health insurance plan.
After enrolling in an insurance policy, the credit will be available immediately. You will need to pay your monthly premiums in most cases. However, you can request a premium credit tax credit right away. You could receive tax credits of up to $1,000 per calendar year depending on your income.