Open Enrollment is right around the corner in New Jersey! It starts Monday, Sunday 1, 2021, and ends January 31, 2022. Now is a great time to start researching your health insurance options for 2022.
Horizon Blue Cross Blue Shield of NJ plans are named after metal tiers: Bronze, Silver, Gold, and Platinum; this makes it easy to compare options. Each plan offers a different level of coverage, and one might better fit your needs depending on your situation. All these plans provide the same essential health benefits. The difference between the tiers is how much you’ll pay for care and how much your insurance will cover.
The OMNIA Bronze Plan is their lowest premium Bronze plan. It offers the lowest monthly premium but highest out-of-pocket costs compared to other comprehensive OMNIA Health Plans, excluding catastrophic plans. Bronze plans, on average, pay for 60% of the covered medical expenses; members pay 40%, and money-saving subsidies may be available. The OMNIA Bronze Plan is a good choice if you don’t expect to use many medical services.
The OMNIA Silver Plan is Horizon BCBS’s lowest premium non-HSA Silver plan. It offers a mid-level monthly premium and out-of-pocket costs when compared to other OMNIA Health Plans. Silver plans, on average, pay for 70% of the covered medical expenses; members pay 30%, and money-saving subsidies may be available. The OMNIA Silver Plan is a good choice for those who want to balance monthly premiums and out-of-pocket costs.
The OMNIA Silver Health Savings Account (HSA) Plan is their lowest premium Silver plan. Like other Silver plans, it pays for 70% of covered medical expenses on average; members pay 30%, and money-saving subsidies may be available. With HSA plans, individuals can make tax-free contributions to their accounts to cover higher deductible costs in exchange for a significantly lower premium. The OMNIA Silver HSA Plan is a good option for a healthy person who doesn’t have ongoing care but wants more comprehensive coverage for unexpected health issues.
It offers a higher monthly premium but lower out-of-pocket costs when compared to other OMNIA Health Plans. Gold plans, on average, pay for 80% of the covered medical expenses; members pay 20%, and money-saving subsidies may be available.
The OMNIA Platinum Plan offers the highest monthly premium but lowest out-of-pocket costs compared to other OMNIA Health Plans. Platinum plans, on average, pay for 90% of the covered medical expenses; members pay 10%, and money-saving subsidies may be available. The OMNIA Platinum Plan is a good choice if the individual frequently uses health and medical services.
Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. 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 our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.