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Posted by on Jul 30, 2013 in Healthcare Reform

Four Levels of Insurance Coverage

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.