Access Health CT will be the state's new health insurance market. 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 different factors to consider when choosing a health insurance plan.
Available plans
Access Health CT offers a range of plans that cover essential health benefits. Some services are free. These plans have varying monthly premiums. You can compare the cost of the different plans by checking out the metal level. While the catastrophic plan is the lowest cost, it has a low monthly fee and covers only 60 percent. This plan is suitable for those who need extensive medical attention, such an emergency room visit or hospital stay. The coverage limits are also lower, and you can enroll in this type of plan at any time of the year.
Access Health CT offers plans for both individuals and families. Silver plans cover many services and have lower prescription drug deductibles. Silver plans can be beneficial if you need only certain medical services on occasion. You may also qualify for Cost-Sharing Reductions (CSRs), which lower the out-of-pocket costs for deductibles and coinsurance. However, you must enroll in a Silver level plan in order to qualify for these lower-cost options.
Plan costs
Access Health CT has many plans available. Each plan comes with its own limitations and benefits. Each plan comes with a monthly premium, deductible and copay amount. 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. 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 less comprehensive but still has a low premium, and 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. To sign up for this plan, however, you must wait until the fall open enrollment period. If you're eligible, you may also be able to switch to Covered Connecticut. However, you may not be eligible to receive tax credits. Therefore, wait until the Special enrollment period.
There are several options available for enrolling into 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. Access Health CT can be a great way to save money if you don't have insurance or are looking to replace your existing plan.
You can choose from many options once you have signed up for a plan. The options available to you will depend on your income and eligibility. You may be eligible for a subsidy depending on your status as caregiver. A partner company such as HUSKY can also help you get a plan. There are both overlapping networks that provide services for 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 is a tool to help people afford premiums for health insurance. Individuals and families can apply for it if they earn up to 138 per cent of the federal poverty line. People who earn this amount can use the credit to purchase a bronze, silver, gold, or platinum health insurance plan.
Once you have signed up for an insurance plan, you can get the credit immediately. Although you will have to pay for your premiums monthly in most cases, you can still apply for a premium credit. You could receive tax credits of up to $1,000 per calendar year depending on your income.