Access Health CT is a new state-run health insurance marketplace. This marketplace will let individuals and small business buy insurance at federally-subsidized rates. The marketplace will open on January 1. When selecting a health insurance policy, there are many things to consider.
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 different monthly premiums. The metal level allows you to compare the costs of different plans. The catastrophic plan with the lowest monthly premium has only 60 percent coverage. This plan is best for those who require extensive medical care such as hospitalizations or acute illnesses. 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 include a wide range of services, and have lower deductibles on prescription drugs. Silver plans are best for those who only require certain services occasionally. You may also qualify for Cost-Sharing Reductions (CSRs), which lower the out-of-pocket costs for deductibles and coinsurance. You must be enrolled in a Silver-level plan to be eligible for these lower-cost options.
Prices of plans
There are several plans to choose from within the Access Health CT marketplace, and all have their own benefits and limitations. Each plan has a different monthly premium,deductible and copay. The platinum plan is an excellent choice for people who need extensive coverage. Platinum plans are for people with serious medical needs and cover 90 percent. 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. These plans come with different levels of financial aid.
If you are currently covered by an employer-sponsored plan, you can switch to an Access Health CT plan. 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. However, you may not be eligible to receive tax credits. Therefore, 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 plans are a great choice if your plan is not in force or you need to get insurance.
You can choose from many options once you have signed up for a plan. Your income, eligibility and other factors will impact the options that you have. You may be eligible for a subsidy depending on your status as caregiver. You may be eligible to receive a plan through a company partner, such HUSKY. There are overlapping networks of providers for both companies. If you have a relative on either plan, you can choose the same physician or medical provider.
Tax credits available
Tax credit can be used to help individuals and families afford their health insurance premiums. It is available for individuals and families with incomes up to 138% of the federal poverty level. The credit is available to those who earn the required amount. They can then use it to buy bronze, silver or gold health insurance plans.
You can apply for the credit right away after you enroll in an insurance plan. You will need to pay your monthly premiums in most cases. However, you can request a premium credit tax credit right away. Based on your income, tax credits may amount to up to $1,000 per annum.