Insurance Blog's

Get more out-of-pocket health insurance savings with the Silver plan

published to November 13, 2015

If you apply for health insurance through the Health Insurance Marketplace®, will tell you if you are eligible for

to reduce monthly premiums. You may also be eligible for discounts to reduce your out-of-pocket medical expenses.

important: The Marketplace Health Plan premium tax credit can be used anywhere.

However, if you are eligible for cost sharing discounts, you will only get these additional savings if you subscribe to a Marketplace Health Plan in the Silver category.

Why Choose Silver

If you qualify for reduced cost sharing, the Silver plan may be the best overall value. Even if your monthly premium is higher than other plan options, additional benefits such as:

  • The Silver plan has a lower deductible. This means insurance companies will start paying for it sooner. As an example, the Silver plan might start paying him after he spent $300 on medical services himself, whereas if he were enrolled in another category plan he would be $750. .
  • Lower copayments and copayments — You can pay with a different type of plan, such as $15 per doctor visit instead of $30.
  • Total cost out of pocket can also be lowerif you need a lot of care in a year.

So when you add up your premiums, deductibles, and other out-of-pocket costs, the Silver plan can significantly reduce your “total medical costs.” This means you can save a lot of money overall.

Learn more about how to save out-of-pocket costs with the Silver plan.

Ready to apply?

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button