The state of Connecticut is creating a new health insurance marketplace called Access Health CT. This marketplace will let individuals and small business buy insurance at federally-subsidized rates. The marketplace will open on January 1. When choosing a plan for health insurance, there are many factors to take into consideration.
Available plans
Access Health CT offers a range of plans that cover essential health benefits. Some services are free. These plans have different monthly premiums. The metal level allows you to compare the costs of different plans. While the catastrophic plan is the lowest cost, it has a low monthly fee and covers only 60 percent. This plan is suitable for those who need extensive medical attention, such an emergency room visit or hospital stay. The coverage limits are also lower, and you can enroll in this type of plan at any time of the year.
Access Health CT has plans that are suitable for families and individuals. Silver plans offer a wider range of services and lower deductibles for prescription drugs. Silver plans might be worth considering if you only use certain medical services from time to time. Cost-Sharing Reductions can be available that will lower out-of budget costs such as coinsurance and deductibles. These lower-cost options are only available to those who have enrolled in Silver plans.
Costs of plans
Access Health CT offers many plans, each with its own advantages and limitations. Each plan has its monthly premium, copay amount, and deductible. The platinum plan is an excellent choice for people who need extensive coverage. Platinum plans cover 90 percent of care costs and are typically designed for people with serious health needs. There are also catastrophic plans, which are available to residents under the age of 30 and those who qualify for a hardship exemption. This plan is not as comprehensive, but it still offers a low premium and lower deductible. These plans come with different levels of financial aid.
You can switch to Access Health CT if you are covered by an employer-sponsored program. However, you will need to wait until the fall open enrollment period to sign up for this plan. If you're eligible, you may also be able to switch to Covered Connecticut. But, tax credits may not be available to you. You should wait for the Special Enrollment Period.
Options for enrolling in plans
Access Health CT is a new Connecticut health insurance marketplace that will allow individuals and small business to obtain affordable health insurance coverage through federally sub-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.
You'll have the ability to choose from a wide range of plans when you enroll. Your income and eligibility will affect the choices you have. A subsidy may be available depending on the status you have as a 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. If you have a relative on either plan, you can choose the same physician or medical provider.
Tax credits available
The tax credit is a way to help people afford health insurance premiums. It's available to people and families who earn at least 138 percent of the federal poverty levels. 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. You will need to pay your monthly premiums in most cases. However, you can request a premium credit tax credit right away. You may be eligible for tax credits up to $1,000 each year, depending on your income.