Nevada offers many different types of health insurance. Some have lower premiums and higher deductibles than others. You can choose the plan that best suits your needs. For example, HMO plans cover the cost of most doctor’s visits. However, emergency care is not included. HMO plans tend to be cheaper than other types of healthcare plans but come with higher deductibles. EMO plans can be similar to HMO plans but don't require referral from your primary doctor.
Premiums are lower for Silver-tier Plans
Silver-tier Nevada health plans offer lower premiums compared to gold-tier plans. Silver plans may offer cost-sharing reductions for families with incomes up to 250% below the federal poverty level. A family can receive the coverage of a Gold Plan for as low as a Silver plan with these cost-sharing cuts. A few plans will cover office visits even without a deductible.
Prescriptions are higher for plans of the Gold-tier plan
Nevada's premiums for Gold-tier health insurance plans is generally higher that those for Bronze-tier plans. The average premium for a 40 year-old in Nevada is $578, while the average premium for a Bronze plan is $629. When you factor in cost-sharing cuts, premiums will be lower. Cost-sharing reductions are available to those with lower incomes. These reduce the amount they pay in copayments, deductibles and coinsurance.
Bronze-tier plans have lower deductibles
It is important to look at the deductibles when comparing different health insurance plans. You will pay less monthly for bronze-tier Nevada plans but you will 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. But, bronze plans are only for medical emergencies. They are not suitable for people who have had medical problems in the past.
Medicaid is free for Nevada residents
Medicaid is free insurance that covers health care for those with special medical needs and low income. 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. Additional qualifying circumstances could also apply. Other income requirements must be met by applicants.
Medicare in Nevada is cheaper
Nevada has over 558,000 Medicare beneficiaries. Nevada offers a variety of Medicare plans, including low-cost Medicare Supplement Plans and 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 come with a savings account for health
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. Those who earn between 138% and 250% of the federal poverty level are able to qualify for cost-sharing reductions on their Silver plan. These families can get coverage comparable to that offered by a Gold plan for a fraction of what it costs.