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Lower Your Out-of-Pocket Costs with a Gold Plan:
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Gold Plans

Gold plans are one of the four "metal" options established by the Affordable Care Act. These plans can make sense if you regularly need medical care.

Gold plans typically have higher monthly insurance premiums than Bronze and Silver plans, however, they do have lower out-of-pocket costs when using medical services. The plan pays for 80% of your medical expenses, while you would be responsible for the remaining 20%, along with your premium.

Although Gold plans have fairly higher premiums, as with all metal plans your monthly insurance rate can be reduced if you qualify for the Premium Tax Credit. The Premium Tax Credit is like a “discount” that is paid for by the government and applied directly to your monthly rate. Your eligibility depends on the state you live and your annual household income, which should be at or below 4x the Federal Poverty Line.

Remember that the only difference among plans is the amount you pay, not the quality of health care you receive. By law, all four plans must meet the Ten Essential Health Benefits, which includes a free wellness visit and preventative care.

Does it Make Sense to Enroll in a Gold Plan?

Only you can decide what type of plan is best for your individual or family needs. It is important to consider your current health, lifestyle, and medical risk factors. That said, it is always best to think in terms of the total cost of the plan, which is the monthly premium, plus your anticipated out-of-pocket costs when using the insurance.

A Gold plan could be the right choice if you:

  • Would rather pay a higher monthly premium if it means you will pay less out-of-pocket when visiting the doctor, going to the emergency room, or using other health care services.
  • Anticipate needing regular medical care;
  • Already take or anticipate needing to regularly take prescription medication;

Keep in mind that no matter which metal level you choose, under Obamacare, all plans have the same maximum out-of-pocket limits. These limits protect you financially, especially if you need a lot of medical care. For 2021, the annual limit is $8,550 for an individual, and $17,100 for a family, including deductibles. Gold plans pays for 80% percent of covered medical expenses before reaching the limit, and then 100% of all covered expenses after reaching the limit.

If you need to lower your out-of-pocket costs even further, consider a Platinum plan. If you do not think you will need much more than preventative medical care, and would like to lower your monthly rate, consider enrolling in a Silver or even Bronze plan.

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HealthFinderWashington.org is an independent marketplace and is not a federal or state Marketplace website. HealthFinderWashington.org does not provide quotes or sell insurance directly to consumers, is not affiliated with any exchange, and is not a licensed insurance agent or broker. Accordingly, you should not send us (via mail or email) any sensitive information, including personal health information or applications. Any such communications will not be treated as confidential and will be discarded, as, in offering this website, we are required to comply with the standards established under 45 CFR 155.260 to protect the privacy and security of personally identifiable information.

This website may not display all data on Qualified Health Plans being offered in your state through the Marketplace website. To see all available data on Qualified Health Plan options in your state, visit your state Marketplace website or go to the Health Insurance Marketplace website at www.HealthCare.gov

Advertised Pricing:

There are several factors that impact your monthly premium; including, but not limited to your age, geographical location, annual income, dependents, and the type of plan you choose. Monthly premiums do not include out-of-pocket costs.

The advertised price may not be typical. It was generated using the Kaiser Family Foundation's subsidy calculator that was accessed on September 16, 2020. The following parameters were used: 21 year old adult, non-tobacco user, annual income of $24,700 in 2020, no children, and no available coverage through a spouse's employer. The resulting monthly premium was $30 per month (or $360 per year after $2,751 in subsidies) for a Bronze Plan. Even when using the same parameters, this result is subject to change.