Access Health CT, a new marketplace for health insurance in Connecticut, is being created. This marketplace will let individuals and small business buy insurance at federally-subsidized rates. The new marketplace will open January 1, 2010. There are many factors you need to consider when choosing health insurance.
Plans Available
Access Health CT has plans that provide ten essential health benefits. Other services are available at no charge. These plans have varying monthly premiums. Check out the metal level to see how the various plans compare. While having a lower monthly premium, the catastrophic plan offers only 60 per cent coverage. This plan is for people who require extensive medical treatment, such as a hospital stay and an acute illness. This type of plan has lower coverage limits. You can enroll anytime of the year.
Access Health CT offers plans both for individuals and families. Silver plans include a wide range of services, and have lower deductibles on prescription drugs. If you only need to use certain medical services every now and then, you may want to consider a Silver plan. Cost-Sharing Reductions (CSRs) may be an option that lowers your out-ofpocket expenses for deductibles, coinsurance, and copayments. However, you must enroll in a Silver level plan in order to qualify for these lower-cost options.
Costs of plans
Access Health CT offers many plans, each with its own advantages and limitations. Each plan has its monthly premium, copay amount, and deductible. The platinum plan is the best option for those who require comprehensive coverage. Platinum plans cover 90 percent of care costs and are typically designed for people with serious health needs. There are also catastrophe plans that are available to residents under 30 years of age and those who have been granted a hardship exemption. This plan is not as comprehensive but offers a lower premium with a lower deductible. Additionally, the plans offer varying levels financial assistance.
If you are currently covered by an employer-sponsored plan, you can switch to an Access Health CT plan. For this plan to become available, you will need wait until fall open enrollment. You may be eligible to change to the Covered Connecticut program. You may not be eligible for tax credits so wait until the Special Entry Period.
You have options to enroll in plans
The new health insurance marketplace in Connecticut, Access Health CT, will allow individuals and small businesses to buy affordable health insurance coverage through federally subsidized rates. Access Health CT is a great option if you're currently without insurance, or need to change your current plan.
When you enroll in a plan, you'll be able to choose from a variety of options. You will be able to choose from a variety of options depending on your income and eligibility. 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. There are both overlapping networks that provide services for both companies. If you have a relative on either plan, you can choose the same physician or medical provider.
Tax credits available
The tax credit helps people pay for their premiums. It is available for individuals and families with incomes up to 138% of the federal poverty level. This credit can be used to buy a bronze, gold, platinum, or silver health insurance plan.
You can apply for the credit right away after you enroll in an insurance plan. In most cases, you must pay for your share of monthly premiums, but you can apply for a premium tax credit to get this money right away. Based on your income, tax credits may amount to up to $1,000 per annum.