The state of Connecticut is creating a new health insurance marketplace called Access Health CT. This marketplace will allow individuals and small businesses to buy health insurance at federally subsidized rates. The new marketplace is set to open on January 1st. When choosing a plan for health insurance, there are many factors to take into consideration.
Plans offered
Access Health CT provides plans that include ten essential medical benefits. Some services can be provided for free. These plans have different monthly premiums. The metal level allows you to compare the costs of different plans. Although the monthly premium is low, this catastrophic plan covers only 60% of your costs. This plan is best for those who require extensive medical care such as hospitalizations or acute illnesses. The coverage limits are also lower, and you can enroll in this type of plan at any time of the year.
Access Health CT provides plans for both individuals, and families. Silver plans provide coverage for a range of services with lower deductibles. Silver plans can be beneficial if you need only certain medical services on occasion. Cost-Sharing Reductions (CSRs) may be an option that lowers your out-ofpocket expenses for deductibles, coinsurance, and copayments. You must be enrolled in a Silver-level plan to be eligible for these lower-cost options.
Costs of plans
Access Health CT has many plans available. Each plan comes with its own limitations and benefits. Each plan comes with a monthly premium, deductible and copay amount. The platinum plan provides comprehensive coverage for those who need it. Platinum plans provide coverage for 90 percent of healthcare costs. They are usually designed for those with severe health conditions. 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 not as comprehensive, but it still offers a low premium and lower deductible. Additionally, the plans offer varying levels financial assistance.
Access Health CT is available for those currently covered by employer-sponsored plans. For this plan to become available, you will need wait until fall open enrollment. If you are eligible, it is possible to switch to Covered Connecticut. But, tax credits may not be available to you. You should wait for the Special Enrollment Period.
There are many 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 plans are a great choice if your plan is not in force or you need to get insurance.
You'll have the ability to choose from a wide range of plans when you enroll. Your income and eligibility will determine the options you have. Your status as a caregiver may qualify you for a subsidy. You can even get a plan through a partner company, such as HUSKY Health. Both companies share the same network of providers. 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. These individuals can use the credit for a bronze or silver, gold, and platinum plan of health insurance.
You can apply for the credit right away after you enroll in an insurance plan. The credit is available immediately after you enroll in an insurance plan. You must still pay your monthly premiums. But, you can apply for a tax credit for premiums to get the money as soon as you sign up. Depending on your income, you may be able to receive up to $1,000 per year in tax credits.