Platinum Exchange Plan VS Gold Exchange Plan: Which is the Better Deal?
The Health Insurance Marketplace begins January 2014. If you are looking for the most comprehensive coverage with the new Healthcare Exchange plans those would be the Gold Plan and the Platinum Plan. But which one saves you the most money? We have made a chart to help you make an informed decision when the open enrollment runs from October 1, 2013 to March 31, 2014.
Gold Plan and Platinum Plan Details
The plans in the chart are for families and individuals, click here to learn more about ObamaCare for Small Business Owners.
As well as the figures below do not include federal premium subsidies to help with monthly premium costs or federal cost-sharing subsidies to help with out of pocket costs, such as coinsurance, deductible, and copayment.
| Benefits* | Gold | Platinum |
| Deductible | $0 | $0 |
| Preventive | $0 | $0 |
| Doctor’s Office Visits | $30 | $20 |
| Specialist | $50 | $40 |
| Generic Rx | $25 or less | $5 or less |
| Brand RX | $50 | $15 |
| Lab Testing | $35 | $25 |
| X-ray | $50 | $40 |
| ER Visit | $250 | $150 |
| Urgent Care | $60 | $40 |
| Out-of-Pocket Max | $6,350/$12,700 (ind/fam) | $4,000/$8,000 (ind/fam) |
| Details | Gold Plan | Platinum Plan |
*The information above reflects California’s data, as they were the first to release “metal” plan models. As states and providers work out the details we will update this article.For information about specific details of health plans in your state call 800-930-7956.
Which is the Better Deal?
To learn which plan will save you the most you need to weigh the following:
- Learn whether you are eligible for federal premium subsidies and if they apply to the more comprehensive plans in your state
- Consider your monthly premium cost
- Consider what your out-of-pocket costs will be.
- If you have a serious illness choosing Platinum will save you the most money.
Platinum may the better choice for you than Gold, if you can afford it, because it has lower copays and a lower out of pocket max -this plan is expected to draw persons with the most serious illnesses because it offers the greatest coverage. However, Gold has a lower monthly premium and may be more cost effective if you are healthy. Click here to compare the Bronze Plan, Silver Plan, Gold Plan, and Platinum Plan side-by-side.
This is where we step in. We can help you with your specific monthly premium or to find out if you are eligible for subsidies, click here to contact a Medicoverage agent to get started.
Comments and Questions
Click to leave a CommentComment from Christy on August 20, 2013
Virginia is so Hostile to this insurance its unbelievable. I am surfing the web constantly to try and figure out how much/if they even offer the platinum plan.
MEDICOVERAGE AGENT RESPONSE:
Christy,
The Platinum plans will be available for purchase in Virginia starting Oct 1, 2013 (coverage will begin on Jan. 1, 2014). We will post up prices as soon as they become available.
-Chris from www.medicoverage.com
Comment from Chris on August 01, 2013
I wish somewhere I could find how much these plans cost. I saw $67 for Silver somewhere on this site, in KY, but I can’t find the monthly cost for any of the other plans?
MEDICOVERAGE AGENT RESPONSE
Chris,
Thank you so much for your question. As far as we know, Kentucky has only released general Silver plan premiums online. Your quote will depend on your age, household size and zip code, please call 800-980-7956 to get a customized quote.
-Eric from www.Medicoverage.com.