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.
Plan options 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 offers plans both for individuals and families. Silver plans include a wide range of services, and have lower deductibles on prescription drugs. Silver plans may be a good option if you are only going to need certain services. Cost-Sharing Reductions can be available that will lower out-of budget costs such as coinsurance and deductibles. However, you must enroll in a Silver level plan in order to qualify for these lower-cost options.
Plan costs
Access Health CT Marketplace offers several plans. All have their benefits and drawbacks. Each plan has its own monthly premium and deductible. 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 available for residents below 30 and those who meet the hardship exemption criteria. Although this plan isn't as comprehensive, it offers a lower premium and a lower deductible. These plans come with different levels of financial aid.
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. If you are eligible, it is possible to switch to Covered Connecticut. However, you may not qualify for tax credits, so you should wait until the Special Enrollment Period to do so.
You have options to enroll in plans
Access Health CT, Connecticut's newest health insurance marketplace, will offer affordable health insurance coverage for individuals and small-businesses at federally subsidized rates. Access Health CT can be a great way to save money if you don't have insurance or are looking to replace your existing plan.
There are many options available to you when you sign up for a policy. Your income and eligibility will determine the options you have. Your status as a caregiver may qualify you for a subsidy. You may be eligible to receive a plan through a company partner, such HUSKY. There are overlaps in the networks of providers between 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 is a way to help people afford health insurance premiums. The credit is available to families and individuals earning up to 138% of the federal poverty threshold. These individuals can use the credit for a bronze or silver, gold, and platinum plan of health insurance.
The credit can be used immediately after signing up for an insurance program. While you are required to pay for your monthly premiums in most instances, you may be eligible for a premium tax credit. Your income may determine how much tax credits you are eligible to receive each year.