Nevada offers many different types of health insurance. Some plans have lower premiums while others have higher deductibles. You can pick a plan that meets your needs and fits within your budget, depending on your financial situation. For example, HMO plans cover the cost of most doctor’s visits. However, emergency care is not included. HMO plans often cost less than other health plans, but have higher deductibles. EMO plans are similar to HMO plans, but do not require referrals from your primary physician.
Premiums are lower for Silver-tier Plans
Silver-tier health insurance plans in Nevada offer lower premiums than those of the gold-tier plan. Silver plans can offer cost-sharing cuts for families whose incomes are up to 250% above the federal poverty line. These cost-sharing reductions allow a family to get the coverage of the Gold plan at a fraction of the cost of the Silver plan. Some plans also cover office visits without a co-pay.
Plans with gold-tier status have higher premiums
Nevada's Gold-tier insurance plans have higher premiums than Bronze-tier plans. In Nevada, the average premium for a 40-year-old is $578, compared to $629 for a Bronze plan. However, premiums are lower when you consider cost-sharing reductions. Low income people may be eligible for cost-sharing cuts, which lower the amount they must pay in copayments, codeductibles and coinsurance.
The deductibles for Bronze-tier plans are lower
It is important to compare the deductibles for each plan when comparing health insurance plans. Bronze-tier plans in Nevada will cost you less in monthly premiums, but have higher deductibles. These plans will cover approximately 40% of medical expenses. This plan is for those who have a healthy lifestyle and wish to save money on their monthly premiums. Bronze plans won't cover any medical emergency and are not recommended for anyone with a history.
Medicaid is free for Nevada residents
Medicaid is free coverage for low-income people and those with special medical requirements. This state program provides coverage for low income individuals and families with monthly payments that are sent directly to their health care providers. To be eligible applicants must reside in Nevada, be a U.S. Citizen or Permanent Resident. Other conditions may also be considered. The income requirements for applicants must also be met.
Medicare in Nevada is cheaper
Nevada has over 558,000 Medicare beneficiaries. There are a number of Medicare plans available in Nevada, from low-cost Medicare Supplement Plans to more comprehensive Medicare Advantage plans. These plans can help pay for out-of-pocket expenses and are available for people who become eligible for Medicare before January 1, 2020.
Silver-tier plans include a Health Savings Account
Many Silver-tier health insurance plans in Nevada include a savings account. This is a great option for those who have difficulty paying for health care. For those earning between 138%-250% of the federally poverty level, Silver plan members can be eligible for cost sharing reductions. This allows these families to get coverage equivalent to that of a Gold plan at a fraction of the cost.