Access Health CT is a new state-run health insurance marketplace. The marketplace will enable individuals and small businesses alike to purchase insurance at federally subsidized rates. The marketplace will open on January 1. There are many factors you need to consider when choosing health insurance.
Available plans
The plans available through Access Health CT cover ten essential health benefits and some services are provided at no cost. These plans have varying monthly premiums. You can compare the cost of the different plans by checking out the metal level. The lowest-cost catastrophic plan has a low monthly premium, but covers only 60 percent of costs. This plan is for people who require extensive medical treatment, such as a hospital stay and an acute illness. This plan also has lower coverage limits, so you can enroll at any time during the year.
Access Health CT offers plans for both individuals and families. Silver plans provide coverage for a range of services with lower deductibles. 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. For these options to be available, you must sign up for a Silver level plan.
Plan costs
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 policies that are available to residents who are under 30 or those who are eligible for hardship exemptions. This plan is less comprehensive but still has a low premium, and 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. If you're eligible, you may also be able to switch to Covered Connecticut. To be eligible for tax credit, however, you might not qualify. Wait until the Special Enrollment period.
Optional ways to enroll in plans
Access Health CT, Connecticut's new health insurance market, will allow small and large businesses and individuals to get affordable health insurance through federally subsidised rates. Access Health CT is a great option if you're currently without insurance, or need to change your current plan.
When you enroll in a plan, you'll be able to choose from a variety of options. 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. A partner company such as HUSKY can also help you get a plan. There are both overlapping networks that provide services for both companies. You can visit the same doctor or medical provider if you have a family member who is covered by each plan.
Tax credits available
The tax credit is a tool to help people afford premiums for health insurance. It is available to individuals and families earning up to 138 percent of the federal poverty level. These individuals can use the credit for a bronze or silver, gold, and platinum plan of health insurance.
You can apply for the credit right away after you enroll in an insurance plan. 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. Based on your income, tax credits may amount to up to $1,000 per annum.