Difference Between the Metal Plans

There are 4 Metal Levels of standardized coverage. They are represented by their actuarial value.

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Knowing the 4 Metal Levels of Health Coverage in 2015

If you don't know what the 4 metal levels are, you should. You will need to know and understand how each of these metal levels compare, in order to select a health insurance plan in 2015. You will need to know this whether you purchase health insurance coverage inside the health insurance exchange or outside of the health insurance exchange. The metal levels will apply to individuals, families, and small business. Not all insurers offering coverage are required to offer all metals. Some may only offer a couple and some may offer all 4.

There are 4 Metal Levels of standardized coverage. They are represented by their actuarial value. It is a percentage of benefits paid by the patient and by the health plan. They are as follows:

Bronze: 60% paid by the health plan and 40% paid by the individual

Silver: 70% paid by the health plan and 30% paid by the individual

Gold: 80% paid by the health plan and 20% paid by the individual

Platinum: 90% paid by the health plan and 10% paid by the individual

These metal levels were created to meet the requirements of the Affordable Care Act (ACA). They provide a strong indication of the percentage of what the individual will pay verses what the health plan will pay. The metals will define the benefits offered that meet the requirements in 2015.

As you can see, the Platinum plan will offer the most benefit and will also be the more expensive plan. These plans will have lower deductibles and lower copayments. The Bronze plan will offer the least benefit and will be less expensive. These plans will have higher deductibles and higher copayments.

If you need assistance with individual and family plan options and enrollment, call us today at (800)560-2443.

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