Four Levels of Insurance Coverage
Starting in 2014, all health insurance policies newly sold to small group employers and individuals will be classified as one of four levels of coverage – bronze, silver, gold or platinum. This classification system was developed to make it easier for consumers to compare plans.
You can choose a level of coverage based on which plan best suits your needs and budget. If you are looking for a rich plan design and are willing to pay a higher monthly premium, the platinum or gold plan may be your best option. When you actually use your medical benefit, you will pay a lower percentage of costs. Or if you need to keep upfront costs as low as possible, you can choose to pay a lower monthly premium with a silver or bronze plan. When you need medical coverage, though, you will pay a higher percentage of costs. It’s up to you.
A catastrophic plan will also be available to those who are under 30 years old or can provide a certification that they are without affordable coverage or are experiencing hardship.
For more information on the levels of coverage and making a choice that works for you and your family, contact your Warner Pacific Sales Executive today.