Access Health CT will be the state's new health insurance market. Access Health CT will offer small and large businesses the opportunity to purchase health insurance at federally subsidised rates. The marketplace will officially open on January 1, 2012. There are many different factors to consider when choosing a health 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 varying monthly premiums. Check out the metal level to see how the various plans compare. The catastrophic plan with the lowest monthly premium has only 60 percent coverage. This plan is ideal for those who require intensive medical care, such a hospital stay or an aggravated illness. You can also enroll in this plan at any hour of the day, as there are no coverage limits.
Access Health CT offers plans to both individuals as well as families. Silver plans cover many services and have lower prescription drug deductibles. Silver plans might be worth considering if you only use certain medical services from time to time. Cost-Sharing Reductions are available to help lower your out-of-pocket deductibles or coinsurance. However, you must enroll in a Silver level plan in order to qualify for these lower-cost options.
Plan costs
Access Health CT market offers several plans. Each plan has its benefits and limitations. Each plan has its monthly premium, copay amount, and deductible. The platinum plan is the best option for those who require comprehensive coverage. Platinum plans typically cover 90% of medical costs and are designed for people with very serious health problems. 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 is available for those currently covered by employer-sponsored plans. For this plan to become available, you will need wait until fall open enrollment. If you're eligible, you may also be able to switch to Covered Connecticut. You may not be eligible for tax credits so wait until the Special Entry Period.
Optional ways 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. If you are currently without insurance or need to replace your plan, this is a good time to consider enrolling in an Access Health CT plan.
You'll have the ability to choose from a wide range of plans when you enroll. Your income, eligibility and other factors will impact the options that you have. You may be eligible for a subsidy depending on your status as caregiver. You may also be eligible for a plan through a partner firm, such as HUSKY Healthcare. There are both overlapping networks that provide services for both companies. 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 is available for individuals and families with incomes up to 138% 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.
Once you have signed up for an insurance plan, you can get the credit immediately. 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.