Access Health CT is a new state-run health insurance marketplace. This marketplace will allow individuals and small businesses to buy health insurance at federally subsidized rates. The new marketplace will open January 1, 2010. There are many different factors to consider when choosing a health insurance plan.
Available plans
Access Health CT has plans that provide ten essential health benefits. Other services are available at no charge. These plans come with different 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 best for those who require extensive medical care such as hospitalizations or acute illnesses. This plan also has lower coverage limits, so you can enroll at any time during the year.
Access Health CT offers plans for both individuals and families. Silver plans cover a variety of services and have smaller deductibles for prescription drugs. Silver plans are best for those who only require certain services occasionally. Cost-Sharing Reductions can be available that will lower out-of budget costs such as coinsurance and deductibles. These lower-cost options are only available to those who have enrolled in Silver plans.
Costs of plans
Access Health CT Marketplace offers several plans. All have their benefits and drawbacks. Each plan has its own monthly premium and deductible. The platinum plan is the best option for those who require comprehensive coverage. Platinum plans typically cover 90% of medical costs and are designed for people with very serious health problems. You can also get catastrophic plans for residents younger than 30 years old and those who are eligible for a hardship exemption. This plan is not as comprehensive, but it still offers a low premium and lower deductible. The plans also come with varying levels of financial assistance.
You can switch to Access Health CT if you are covered by an employer-sponsored program. However, you will need to wait until the fall open enrollment period to sign up for this plan. If you are eligible, it is possible to switch to Covered Connecticut. To be eligible for tax credit, however, you might not qualify. Wait until the Special Enrollment period.
You have options to enroll in plans
Access Health CT, Connecticut's newest health insurance marketplace, will offer affordable health insurance coverage for individuals and small-businesses at federally subsidized rates. If you are currently without insurance or need to replace your plan, this is a good time to consider enrolling in an Access Health CT plan.
There are many options available to you when you sign up for a policy. You will be able to choose from a variety of options depending on your income and eligibility. You may be eligible for a subsidy depending on your status as caregiver. You can get a plan through a partnership company like HUSKY. There are both overlapping networks that provide services for both companies. You can visit the same doctor or medical provider if you have a family member who is covered by each plan.
Tax credits available
The tax credit can help you afford your health insurance premiums. The credit is available to families and individuals earning up to 138% of the federal poverty threshold. These people can apply the credit to purchase bronze, silver and gold or platinum insurance plans.
After enrolling in an insurance policy, the credit will be available immediately. You will need to pay your monthly premiums in most cases. However, you can request a premium credit tax credit right away. You could receive tax credits of up to $1,000 per calendar year depending on your income.