Access Health CT is the new state's health insurance marketplace. This marketplace will let individuals and small business buy insurance at federally-subsidized rates. The new marketplace will open January 1, 2010. There are many things you should consider when selecting a healthcare insurance plan.
Plans Available
Access Health CT has plans that provide ten essential health benefits. Other services are available at no charge. The monthly premiums for these plans vary. The metal level allows you to compare the costs of different plans. While the catastrophic plan is the lowest cost, it has a low monthly fee and covers only 60 percent. 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 both for individuals and families. Silver plans cover a variety of services and have smaller deductibles for prescription drugs. Silver plans may be a good option if you are only going to need certain services. Cost-Sharing Reductions may be available, which reduce out-of pocket costs for coinsurance and deductibles. To be eligible for these low-cost options, you will need to enroll in a Silver plan.
Plan prices
Access Health CT offers many plans, each with its own advantages and limitations. Each plan has a different monthly premium,deductible and copay. The platinum plan is the best option for those who require comprehensive coverage. Platinum plans provide coverage for 90 percent of healthcare costs. They are usually designed for those with severe health conditions. You can also get catastrophic plans for residents younger than 30 years old and those who are eligible for a hardship exemption. While this plan does not offer as much coverage, it has a lower premium than the deductible. Additionally, the plans offer varying levels financial assistance.
Access Health CT plans are available to those who are already covered under an employer-sponsored plan. This plan is only available to those who are eligible. You may be eligible to change to the Covered Connecticut program. You may not be eligible for tax credits so wait until the Special Entry Period.
Optional ways to enroll in plans
Access Health CT will be Connecticut's new marketplace for health insurance. This will enable individuals and small businesses to purchase affordable coverage at federally subsidized rates. Access Health CT is a great option if you're currently without insurance, or need to change your current plan.
There are many options available to you when you sign up for a policy. Your income and eligibility will determine the options you have. Some cases may allow you to qualify for a subsidy due to your status of caregiver. You can get a plan through a partnership company like HUSKY. There are overlaps in the networks of providers between 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. It is available for individuals and families with incomes up to 138% of the federal poverty level. 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. Although you will have to pay for your premiums monthly in most cases, you can still apply for a premium credit. You may be eligible for tax credits up to $1,000 each year, depending on your income.