Covered California exchange announces preliminary rates

[daylatedollarshort]

Main difference between the Silver and more expensive or less expensive plans appears to be higher co-pays. They all have the same out-of-pocket maximums. But the difference in monthly premiums, depending on age, is greater than the difference in the different co-pays.

So why get higher plans unless you expect to use medical services at least twice a month?

For people who are self employed, health insurance premiums may be a deductible business expense while co-pays would not be. So in that case the higher cost plans may be a more tax efficient option for some.

 

[explanade]

But not deductible for early retirees.

 

[M Paquette]

But not deductible for early retirees.

Unless medical insurance plus medical expenses exceeds 10% of adjusted gross income. Then it's a deduction on the individual income taxes. That's a pretty easy target to hit for early retirees without a medical retirement benefit. For my first 5 years of retirement, eligible family medical costs have run from 16% to 25% of AGI.

 

[explanade]

Under some plans, the copays are like $65 for a doctor's visit, which consist of 5 actual minutes with the doctor and a lot of waiting.

I guess that could add up.

One plan had a percentage of payments required by the insured for lab fees.

 

[M Paquette]

Covered California full rates and plans calculator on line

Get Covered | Covered California?

This runs you through the shopping process, requiring the number of people, ages, Modified Adjusted Gross Income for subsidy calculation, and zip code to see who is offering coverage in your area.

The "See My Options" button brings up a list of insurers in each category (Bronze, Silver, Gold, Platinum) along with a pop-up explaining the categories. The Bronze/Silver plans are on one page, and the Gold/Platinum plans are on another page, selected by a button near the page top.

Mousing over the row of categories will fade in that ubiquitous left and right ghost arrow to slide through the groups of insurers in each category. Selecting an insurer and plan brings up a new panel to show cost breakdown (price for each insured), benefits, and a short blurb about the insurer.

 

[explanade]

Thanks, that's more specific info than previously (in the links earlier in the thread).

You need a spreadsheet to compare costs between the Bronze and Silver in general and the specific details.

They have the same out of pocket maximums (do these include the premiums?) but it looks like Silver has lower deductible and lower co-pays (and some of the co-pays can be used before using up the deductible?).