Colorado’s ObamaCare Silver Plan Details
Colorado has released preliminary premiums and rates for its Silver ObamaCare plans. Silver is considered the standard of the ObamaCare plans offers the second lowest monthly premium, as well as the only plan that, if qualified, have cost-sharing subsidies available. All ObamaCare plans must include the 10 essential health benefits, however each provider and state may offer the benefits differently.
CO Silver Plan Details
The Silver plan should, if it follows California’s model, provide benefits before the deductible is satisfied. Colorado’s Silver plan has a preliminary deductible range of $1,250 to $5,000. This plan has a 70/30 split, with the insurance company covering 70% of your services before you meet your out-of-pocket max. Below is a chart of California’s breakdown, just to illustrate how Colorado’s Silver plans may work.
|Benefits||Silver Health Plan*|
|Doctor’s Office Visits||$45|
|Generic Rx||$25 or less|
|Brand RX||$50 *after $500 Rx deduct|
|ER Visit||$250 *after deduct|
|Out-of-Pocket Max||$6,350/$12,700 (ind/fam)|
CO Silver Plan Premiums
Colorado Silver premium’s range for a 40 year old, non-smoker from $245-$475 per month for an individual. These premium rates do not include ObamaCare federal premium subsidies, which can make the monthly premium drop signficantly. Remember premiums are based off age and area. For your specific premium call 800-930-7956.
Comparing Colorado Silver Plan to Other Metal Plans
While Silver has the second lowest monthly premium, it is, as stated above, the only plan that offers ObamaCare cost-sharing subsidies to individuals and families making less than 250% of the poverty line: $28,725 for an individual and $58,875 for a family of four.
So even though the Bronze plan has a lower monthly premium, Silver may save you more money because of the deductible being lower, more services before the deductible is met, and if you qualify the cost-sharing subsidies. Remember to not just weigh your monthly premium when choosing a health plan. Click here to compare the ObamaCare Bronze plan, Silver plan, Gold plan, and Platinum plan side-by-side.
For further questions call the number above or contact Medicoverage.