Access Health CT, a new marketplace for health insurance in Connecticut, is being created. Access Health CT will offer small and large businesses the opportunity to purchase health insurance at federally subsidised rates. The marketplace will open on January 1. There are many things you should consider when selecting a healthcare insurance plan.
Plans Available
Access Health CT has plans that provide ten essential health benefits. Other services are available at no charge. These plans have different monthly premiums. Check out the metal level to see how the various plans compare. 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. This type of plan has lower coverage limits. You can enroll anytime of the year.
Access Health CT offers plans both for individuals and families. Silver plans include a wide range of services, and have lower deductibles on prescription drugs. Silver plans can be beneficial if you need only certain medical services on occasion. 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.
Costs of plans
Access Health CT Marketplace offers several plans. All have their benefits and drawbacks. Each plan comes with a monthly premium, deductible and copay amount. The platinum plan is the best option for those who require comprehensive coverage. Platinum plans are for people with serious medical needs and cover 90 percent. You can also get catastrophic plans for residents younger than 30 years old and those who are eligible for a hardship exemption. This plan is not as comprehensive but offers a lower premium with a lower deductible. The plans also come with varying levels of financial assistance.
Access Health CT plans can be switched to if you are currently 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. However, you may not be eligible to receive tax credits. Therefore, wait until the Special enrollment period.
There are many options for enrolling 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 is a great option if you're currently without insurance, or need to change your current plan.
You'll have the ability to choose from a wide range of plans when you enroll. You will be able to choose from a variety of options depending on your income and eligibility. A subsidy may be available depending on the status you have as a caregiver. You can even get a plan through a partner company, such as HUSKY Health. Both companies share the same network of providers. You can visit the same provider or doctor even if you have family members on both plans.
Tax credits available
The tax credit is a way to help people afford health insurance premiums. It's available to people and families who earn at least 138 percent of the federal poverty levels. This credit can be used to buy a bronze, gold, platinum, or silver health insurance plan.
The credit is available immediately after enrolling in an insurance plan. Although you will have to pay for your premiums monthly in most cases, you can still apply for a premium credit. Your income may determine how much tax credits you are eligible to receive each year.