Access Health CT will be the state's new health insurance market. Access Health CT will offer small and large businesses the opportunity to purchase health insurance at federally subsidised rates. The new marketplace will be open from January 1st. When selecting a health insurance policy, there are many things to consider.
Plan options available
Access Health CT plans offer ten essential benefits. Additionally, some services are offered at no cost. These plans have different monthly rates. Compare the prices of these plans by looking at the metal level. The catastrophic plan with the lowest monthly premium has only 60 percent coverage. This plan is for people who require extensive medical treatment, such as a hospital stay and an acute illness. The coverage limits are also lower, and you can enroll in this type of plan at any time of the year.
Access Health CT provides plans for both individuals, and families. Silver plans provide coverage for a range of services with lower deductibles. Silver plans may be a good option if you are only going to need certain services. Cost-Sharing Reductions are available to help lower your out-of-pocket deductibles or coinsurance. For these options to be available, you must sign up for a Silver level plan.
Plan costs
Access Health CT market offers several plans. Each plan has its benefits and limitations. Each plan comes with a monthly premium, deductible and copay amount. The platinum plan provides comprehensive coverage for those who need it. Platinum plans typically cover 90% of medical costs and are designed for people with very serious health problems. There are also catastrophe plans that are available to residents under 30 years of age and those who have been granted a hardship exemption. This plan is not as comprehensive but offers a lower premium with a lower deductible. You can also get financial assistance in varying amounts.
Access Health CT plans are available to those who are already covered under an employer-sponsored plan. For this plan to become available, you will need wait until fall open enrollment. If you're eligible, you may also be able to switch to Covered Connecticut. But, tax credits may not be available to you. You should wait for the Special Enrollment Period.
Optional ways to enroll in plans
Access Health CT, Connecticut's new health insurance market, will allow small and large businesses and individuals to get affordable health insurance through federally subsidised rates. You should consider enrolling in Access Health CT if you are without insurance or need to replace it.
There are many options available to you when you sign up for a policy. Your income, eligibility and other factors will impact the options that you have. Your status as a caregiver may qualify you for a subsidy. You may be eligible to receive a plan through a company partner, such HUSKY. There are overlaps in the networks of providers between both companies. If you have a relative on either plan, you can choose the same physician or medical provider.
Tax credits available
The tax credit helps people pay for their premiums. The credit is available to families and individuals earning up to 138% of the federal poverty threshold. People who earn this amount can use the credit to purchase a bronze, silver, gold, or platinum health insurance plan.
You can apply for the credit right away after you enroll in an insurance plan. Although you will have to pay for your premiums monthly in most cases, you can still apply for a premium credit. Depending on your income, you may be able to receive up to $1,000 per year in tax credits.