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insurance plan options

Breaking Down Your Plan Options

There are four categories of health plans to choose from. All metal plans are required to cover essential health benefits, but it’s important to choose a plan that you can afford and that meets your family’s health care needs.

Which metal category is right for you?

The four insurance plan categories you can choose from for coverage, are presented in “metals”: Bronze, Silver, Gold, and Platinum. Starting with plans with low premiums that mainly protect you in worst-case scenarios, to plans where you will pay more each month but less out-of-pocket when you get health care services.



Bronze: has the lowest monthly premium and the highest cost when you need care. Bronze deductibles can be thousands of dollars that you will pay for medical costs before your insurance plan starts to pay. The split cost is usually the insurance pays 60% and you pay 40%. This plan is perfect for you if you want a low cost monthly premium that will protect you from worst-case scenarios but you will pay more for routine care services.

Silver: has a moderate monthly premium and moderate cost when you need care. Silver deductibles are usually lower than the Bronze’s plan before your insurance pays anything. The split cost is usually the insurance pays 70% and you pay 30%. This plan is a good choice for you if you’re willing to pay a slightly higher monthly premium than Bronze to have more of your routine care covered.

Gold: has a high monthly premium but low cost when you need care. The deductibles amount of medical expenses you pay yourself before your plan pays are usually low. The split cost is usually the insurance pays 80% and you pay 20%. Gold plan would be a great value for you if you use a lot of care services because you will pay more each month to have more costs covered when you get medical treatment.

Platinum: has the highest monthly premium and lowest cost when you need care. Deductibles are extremely low, which means your plan starts paying its share earlier than the other categories. The split cost is usually the insurance pays 90% and you pay 10%. This plan is the best if you use a lot of medical treatment and willing to pay a very high monthly premium, knowing all your other costs will be covered.

Catastrophic: has the lowest premium and a very high deductibles. You will be protected in worst-case scenarios but you will pay for all of your routine medical expenses yourself.

Eligible for this plan:

  • People under the age of 30
  • People of any age with hardship or affordability exemption 


While these metal levels have little to do with the quality of care, they do indicate how you and your health plan provider will share in the plan’s costs. It’s important that your consider all of your options when choosing a plan. Applying for health insurance can be overwhelming. Cosmo Insurance Agency makes it EASY!  

Contact Cosmo today for assistance.

Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.