The Obamacare law is becoming effective 2014 and requires standard set of health care plans to be made available from health insurance exchanges.The insurance exchanges or marketplace will play a key role in providing health insurance to millions of currently uninsured people and a new option for small businesses to buy them.There will be 5 types of health benefit insurance plans available in state or federal insurance exchanges. (All the plans will have a set of minimum essential benefits covered. Get obamacare describe in detail how one can qualify for these plans)
This is the very basic plan and provide 60% coverage of health care costs. The out-of-pocket maximum limit is equal to the limit for Health Savings Account (HSA) each calendar year (Individual: $6,250 and Family: $12,500 for 2013)
Silver plan provides 70% coverage with out-of-pocket maximum limit same as HSA.
Gold plan provides 80% coverage with out-of-pocket maximum limit same as HSA. This seems to be a very good mid level plan choice for people who have PPO plans and cover 80% of the cost.
Platinum plan provides 90% coverage with out-of-pocket maximum limit same as HSA. This plan is highest level plan available in health insurance exchange and provide the maximum benefit, though cost of this plan is likely to be significantly higher than entry bronze level plan.
It provides catastrophic coverage only and available to those up to age 30 or to those who are exempt from the individual mandate to purchase coverage. The coverage level set at the HSA current law levels except that preventive benefits and coverage for three primary care visits would be exempt from the deductible. This plan is only available in the individual market.
Overall all 4 plan types plus Catastrophic Plan should provide ample choice to consumers. All plans would have per-existing condition coverage available. The plans can be change on open enrollment each year. Following is a brief summary of all the plans.
|Bronze||60% of health expenses paid|
|Silver||70% of health expenses paid|
|Gold||80% of health expenses paid|
|Platinum||90% of health expenses paid|
|Catastrophic||Only catastrophic coverage and for <= 30 year age and exempt from buying coverage|