The Importance of the Silver Health Plan
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Dennis Jarvis
May 3, 2013, 5:10:02 AM5/3/13
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Please consider this free-reprint article written by:
Dennis Jarvis
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Article Title: The Importance of the Silver Health Plan
Author: Dennis Jarvis
Word Count: 623
Article URL: http://www.isnare.com/?aid=1836681&ca=Medical+Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1836681
Easy Publish Tool: http://www.isnare.com/html.php?aid=1836681
*********************** ARTICLE START ***********************
The new color of health subsidies for insurance in the Health Exchange is clearly going to be Silver. As we get closer to the roll-out of the new plans and most importantly to us, the potential health subsidies, the U.S. public will be come well acquainted with the Silver plan so let's take a look at why it is so important.
Health plans are going Metallic
The original bill established 4 essential health plans that would be available to the individual, family, and group market after Jan 1st 2014. These plans will have different levels of benefits and different monthly premiums. Starting from less rich to more rich in benefits and cost, they are the Bronze, Silver, Gold, and Platinum. There will also be a catastrophic plan for individuals under age 30. The metallic plans are designed to hit certain levels of coverage. For example, a person with Platinum plan can expect the plan to pay approximately 90% of health related costs that arise. Keep in mind that this is an average and some people have significant health care costs while others might never see a doctor. The Gold is designed to absorb 80% of the potential health care costs. Silver is slotted for 70% and the Bronze is designed for 60% of the health care costs. We're starting to see what this actually translates out to in benefits since California has already released the essential plan benefits. The Platinum and Gold are very rich in benefits with small if any deductibles and low coinsurance and copays. The Bronze is anticipated to have a higher deductible of between $3-4K on average. The Silver will probably have smaller deductible (by today's standards) of around $1500 and this is the plan that we're most interested in when considering health subsidies.
Silver is the designated plan for subsidies
The law went further to stipulate that only the Silver level of benefits would be eligible for the health subsidy assuming that you meet the other requirements which are primarily based on income levels as compared to the Federal Poverty Level. This means that if you are eligible based on income but choose the Gold, Platinum, or Bronze plan, you will not be able to get the health subsidy. Essentially, there will be no reason to choose any plan outside of the Silver if you qualify for and want to get the subsidy. The Health Subsidies are considerable amounts of money that are credits so there is very little reason not to take advantage of them if available. So Silver it is!
Richer benefits for the cost of Silver
Keep in mind that there is also a Benefit subsidy for those that make up to 250% of the Federal Poverty Level. Each State and/or the Federal Exchange will have different takes on this but you can expect to have less out of pocket for actual medical expenses on the Silver plan than what the core benefits show. Those individuals that make over 250% but under 400% of poverty will get the premium subsidy but still have the standard Silver benefits. So why did they choose the Silver and not one of the other plans or allow the subsidy towards any plan?
Affordability drives the Silver selection
The think goes like this. If you qualify for a health subsidy, income is already tight. You probably can't truly afford the Platinum or Silver plan even with the subsidy. Conversely, you probably can't afford the out of pocket that might occur on the less rich Bronze plan. They chose a middle ground option which is the Silver plan.
- See more at: http://www.healthsubsidy.net/Silver_Plan_and_Health_Subsidy.html
About The Author: Dennis Jarvis is a licensed health insurance agent who focuses on helping people understand the new health subsidy available through Reform for health care. http://www.healthsubsidy.net
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1836681
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Dennis Jarvis
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1836681
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1836681
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: The Importance of the Silver Health Plan
Author: Dennis Jarvis
Word Count: 623
Article URL: http://www.isnare.com/?aid=1836681&ca=Medical+Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1836681
Easy Publish Tool: http://www.isnare.com/html.php?aid=1836681
*********************** ARTICLE START ***********************
The new color of health subsidies for insurance in the Health Exchange is clearly going to be Silver. As we get closer to the roll-out of the new plans and most importantly to us, the potential health subsidies, the U.S. public will be come well acquainted with the Silver plan so let's take a look at why it is so important.
Health plans are going Metallic
The original bill established 4 essential health plans that would be available to the individual, family, and group market after Jan 1st 2014. These plans will have different levels of benefits and different monthly premiums. Starting from less rich to more rich in benefits and cost, they are the Bronze, Silver, Gold, and Platinum. There will also be a catastrophic plan for individuals under age 30. The metallic plans are designed to hit certain levels of coverage. For example, a person with Platinum plan can expect the plan to pay approximately 90% of health related costs that arise. Keep in mind that this is an average and some people have significant health care costs while others might never see a doctor. The Gold is designed to absorb 80% of the potential health care costs. Silver is slotted for 70% and the Bronze is designed for 60% of the health care costs. We're starting to see what this actually translates out to in benefits since California has already released the essential plan benefits. The Platinum and Gold are very rich in benefits with small if any deductibles and low coinsurance and copays. The Bronze is anticipated to have a higher deductible of between $3-4K on average. The Silver will probably have smaller deductible (by today's standards) of around $1500 and this is the plan that we're most interested in when considering health subsidies.
Silver is the designated plan for subsidies
The law went further to stipulate that only the Silver level of benefits would be eligible for the health subsidy assuming that you meet the other requirements which are primarily based on income levels as compared to the Federal Poverty Level. This means that if you are eligible based on income but choose the Gold, Platinum, or Bronze plan, you will not be able to get the health subsidy. Essentially, there will be no reason to choose any plan outside of the Silver if you qualify for and want to get the subsidy. The Health Subsidies are considerable amounts of money that are credits so there is very little reason not to take advantage of them if available. So Silver it is!
Richer benefits for the cost of Silver
Keep in mind that there is also a Benefit subsidy for those that make up to 250% of the Federal Poverty Level. Each State and/or the Federal Exchange will have different takes on this but you can expect to have less out of pocket for actual medical expenses on the Silver plan than what the core benefits show. Those individuals that make over 250% but under 400% of poverty will get the premium subsidy but still have the standard Silver benefits. So why did they choose the Silver and not one of the other plans or allow the subsidy towards any plan?
Affordability drives the Silver selection
The think goes like this. If you qualify for a health subsidy, income is already tight. You probably can't truly afford the Platinum or Silver plan even with the subsidy. Conversely, you probably can't afford the out of pocket that might occur on the less rich Bronze plan. They chose a middle ground option which is the Silver plan.
- See more at: http://www.healthsubsidy.net/Silver_Plan_and_Health_Subsidy.html
About The Author: Dennis Jarvis is a licensed health insurance agent who focuses on helping people understand the new health subsidy available through Reform for health care. http://www.healthsubsidy.net
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1836681
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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