Another Health Insurance Question

[UnrealizedPotential]

So I am looking at two plans, one is a silver plan for $134 a month, and another is a Bronze plan for $14.27 a month. Of course these prices are with the subsidy I would get. I think the Bronze plan might be a little better.

But my question is if Obamacare goes by income and not by net worth, do I qualify for both the Bronze and the Silver plan? On the HC website and on an article I read online it seemed the subsidy applied only to silver plans. Then I thought that doesn't make sense. I must have understood it wrong. Or is the Silver plan promoted as the one insurers want everyone to go with, but all three tiers offer subsidies? I admit I am confused.

 

[rbmrtn]

The premium tax credit applies to all plans. The CSR ( Cost Sharing Reduction ) is only for silver plans below a certain income level.

 

[ivinsfan]

You are mixing apples and oranges. CSR and Subsidy.. Yes it can be confusing but spend some actual reading time online. We're getting so many HI questions lately that show lack of knowledge of even the basic facts...

It's complicated and you won't get the complete picture with random questions on this forum.

 

[UnrealizedPotential]

You are mixing apples and oranges. CSR and Subsidy.. Yes it can be confusing but spend some actual reading time online. We're getting so many HI questions lately that show lack of knowledge of even the basic facts...

It's complicated and you won't get the complete picture with random questions on this forum.

Yes, I am going to have to sit down with someone in town who deals with this because I am unsure . I will make an appointment with someone.

 

[rbmrtn]

It's explained on the healthcare.gov site

https://www.healthcare.gov/lower-costs/save-on-monthly-premiums/

https://www.healthcare.gov/lower-costs/save-on-out-of-pocket-costs/

 

[UnrealizedPotential]

I think it's becoming clearer. What I would need to do I think is do the advance payment of the premium tax credit to pay the less amount every month and the subsidy amount goes to the insurance company. I think this works for all three tiers.

The CSR is just extra savings only offered with Silver plans, but that is in addition to the subsidy.

 

[Mr._Graybeard]

We've always used a private-sector health insurance broker to help us navigate through the plans. He gets paid on commission by the insurer, so it's basically a free service to the customer.