The Affordable Care Act’s (ACA) introduced to a new way of selecting health insurance: by actuarial tier, more commonly referred to as “metal level.”
Individual major medical health insurance plans on the market today are categorized into four tiers based on how covered medical costs are shared between the health insurance policy and you, the policyholder. It has nothing to do with the level of care or covered services included in the plan.
Under the ACA, these tiers have been assigned a metal name: bronze, silver, gold or platinum.
Plan Category
- Bronze: the insurance company pay 60% and you pay 40%
- Sliver: the insurance company pay 70% and you pay 30%
- Gold: the insurance company pay 80% and you pay 20%
- Platinum: the insurance company pay 90% and you pay 10%
Do you need help determining what level is best for you or finding out if you could qualify for a health coverage subsidy? Call us today to speak with a licensed broker at 732-363-3888.
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.
