The Affordable Care Act (ACA) health insurance plans requires the individual and small group market places certain actuarial value levels to meet will. Market plans offer four standard levels of coverage or "metallic layers" of reporting. These layers were determined to allow consumers to compare plans with different levels of coverage for essential health benefits (EHB). Currently, there is bronze, silver, gold and platinum plans. Last month, a group of US senators and insurers hit the ground the metallic layers a "copper" plan is added.
Background on the metallic animal
In the past, it was hard to understand the levels of coverage of the plans. This is no longer the case. From 2014 individual health insurance plans in four standardized coverage levels "metallic levels of coverage." Categorized, named These help categories, compare plans better "apples to apples".
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The bronze plan has an insurance value of 60 percent. People are required to pay 40 percent of their expected health care costs through deductibles copayments, and coinsurance.
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The silver plan has an insurance value of 70 percent. People are required to pay 30 percent of their expected health care costs through deductibles copayments, and coinsurance.
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The Gold plan has an insurance value of 80 percent. People are required to pay 20 percent of their expected health care costs through deductibles copayments, and coinsurance.
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The platinum plan has an actuarial value of 0 percent. People are required 10 percent of their expected health care costs through deductibles to pay copayments, and coinsurance
Source :. Affordable Care Act 101
Why introduce a copper-plan?
, the idea behind the introduction of a copper-plan is to try and attract individuals who have not yet purchased a health insurance because of the cost. In addition, applicants in the copper plan argue that a copper animal can promote introduction those who already enrolled plan in a market to re-evaluate their health options for 2015
The proposed Copper plans would be at the bottom of metallic layer (lower-bronze). The plans would significantly lower premium would cover only 50 percent of the individual expected medical costs. This leaves the person. For the remaining 50 percent through deductibles, copayments and coinsurance
Although with a lower premium a plan to introduce can such an attractive idea, some seem (consumers, insurers and the applicant of the plan), others argue otherwise. Opposers of the introduction of a copper plan point out that even though the premium may be cheaper if a person ever to use their plan, they had a could put extremely expensive deductible.
Other opposers of copper plan argue that a low-premium high-deductible plan would not have the force of attraction that copper plan intending applicants. Only 20 percent of the market enrollees selected a Bronze plan. From the market enrollees, 65 percent selected a Silver plan, which was the most popular by far.
Since the average market plan costs only $ 82 a month if premium tax credits are taken into account, a low-premium high -deductible plan seems less attractive for enrollees than expected.
What do you think about the introduction of a flat copper in the metal levels? Leave a comment below.
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