Because the cost of cost - sharing reductions has been added to
silver plan premiums in most states, it's possible to find gold plans that are less expensive than silver plans.]
But as noted above, in 2018 (and likely beyond, assuming insurers continue to add the cost of cost - sharing reductions to
silver plan premiums), it may make more sense to buy a gold plan simply because it's less expensive than a silver plan, despite offering better coverage.
But in another oddity for 2018 coverage, gold plans in some areas are actually less expensive than silver plans (since the cost of cost - sharing reductions has been added to
silver plan premiums), despite the fact that the gold plans have higher actuarial value.
This strategy protects most consumers from the impact of the federal government cutting off CSR funding, since it ultimately just results in larger premium subsidies (premium subsidies are based on the cost of the second - lowest - cost silver plan in each area, so as
silver plan premiums rise, so do subsidies).
States like Minnesota, Tennessee and Oregon have rates well below the cap that the ACA puts on benchmark
silver plan premiums ($ 209 after subsidies), leading to large local growth as companies begin to edge closer toward that cap.
For 2017,
the Silver Plan premium is increasing to $ 1500 per month.
Once you have an accurate 1095 - A and second lowest cost
Silver plan premium, you're ready to fill out Form 8962, Premium Tax Credit.
For example, when examining an individual who makes $ 48,000 annually (just above the $ 47,520 cut - off for individual premium subsidy eligibility in 2017) 60 year - olds would need to spend 22 % of their income to afford the average
silver plan premium while 30 year - olds would only need to spend 9 %.
Not exact matches
A recent Commonwealth Fund study co-authored by Collins looked at how much low - income people, who would otherwise be eligible for Medicaid if their state had expanded the program, would pay in
premiums and out - of - pocket health costs if they enrolled in «
silver» Obamacare
plans and if they were «medium» users of health care.
The totals varied widely, from $ 334 in annual
premium and out - of - pocket costs for Obamacare
silver plan customers in Texas, up to $ 764 in such costs in Kansas
49 %: The highest requested
premium increase across 21 major cities for a benchmark ACA exchange «
Silver»
plan in 2018.
Unlike the
premium tax credit (which can be used for other «metal levels»), cost - sharing subsidies only work with
silver plans.
It was compiled using monthly
silver premiums, or the standard
plan, for a 40 - year - old individual.
When it became apparent that the cost - sharing subsidies to the insurers would be cut off, state insurance regulators and insurance carriers concentrated the
premium increases to their
silver plans instead of spreading the
premium increase across all their marketplace
plans.
According to the Trump Administration's own data, average
premiums for benchmark
silver plans on the health insurance marketplaces increased -LSB-...]
So as the
premium for the second - lowest - cost
silver plan rises, the consumer's
premium subsidy goes up dollar for dollar.
The lowest average
premium nationally for a 27 - year - old in most states is $ 129 a month for a Catastrophic
Plan, $ 163 for a Bronze
Plan, and $ 203 for a
Silver Plan.
Bronze and
Silver plans have lower
premiums (the amount you pay every month), but higher out - of - pocket costs (the amount you pay for hospital and doctor's bills before your insurance kicks in) than the Gold and Platinum varieties.
In general, a
Silver Plan is going to balance out higher
premiums with fewer out - of - pocket costs.
Although going with the free version is a possibility, upgrading to a
premium mode with the
Silver or Gold
plan gives you far more opportunities to make the most of your online dating efforts.
The site divides its
premium membership into two packages: the
Silver plan is cheaper, but offers only partial access to some of the features.
If the actual
premium for the second lowest cost
Silver plan in his state is $ 300 / month (or $ 3,600 per year), Bill's
premium assistance tax credit will be $ 1,920 (which brings his
premium down to the maximum cap of $ 1,680 / year).
Use our tax tool to find your second lowest cost
Silver premium (SLCSP, to figure out your
premium tax credit) and lowest cost Bronze
plan (LCBP, to apply for an affordability exemption).
In 2016, the
premium increased to $ 1900 per month, so we switched to the
SIlver Plan for $ 1100.
If either applies to you, you'll use our tax tool to get the
premium for your second lowest cost
Silver plan.
According to an analysis of
premiums for
silver tiered
plans being offered on new government health insurance exchanges, Minnesota was the only state in the nation to have average monthly
premiums of less than $ 200.
Look at Part III, column B of your 1095 - A, titled «Monthly second lowest cost
silver plan (SLCSP)
premium.»
I ultimately decided on a
Silver level HMO
plan, which had a monthly
premium of $ 290.00.
In general, Bronze
plans have the lowest monthly
premiums and Platinum have the highest, with
Silver and Gold occupying the price points in between.
We quickly reached a page of
silver tier
plans matching our target
premium of around $ 400 a month (note: the experience we describe would be the same for any price level).
Silver plans offer a low copay on doctor visits and brand name prescription drugs, and save employees more on their out of pocket medical bills than the higher premium cost of the silver
Silver plans offer a low copay on doctor visits and brand name prescription drugs, and save employees more on their out of pocket medical bills than the higher
premium cost of the
silver silver plans.
Basically, the higher the
Silver plan price, the higher the
premium tax credit.
Enrollment deadline: Jan. 31, 2018 What's happening to
premiums: 13.9 % average increase; New York estimates
premiums for individuals who purchase its most popular
silver level
plans will decrease around 5 % once federal tax credits are applied.
Update: Covered California announced on Oct. 10 that, in order to keep
premiums stable, it is adding a cost - sharing reduction surcharge to its
silver plans.
Many states have responded by asking insurers to raise the
premiums solely on
silver - level
plans.
Gold and
silver plans fall somewhere in between in terms of
premium costs and deductibles, providing Americans with more options than ever.
The price of a
silver plan sets the other big subsidy in former President Barack Obama's health care law: the
premium tax credit.
Silver plans, the most popular form of coverage, tend to fall somewhere in the middle in terms of
premiums, copays and deductibles.
Insurers raised
premiums to make up for the loss of the subsidies, but many state insurance commissioners asked them to load the increases on
silver plans.
This year, however, comparison - shopping is more important than ever since many states frontloaded rising
premiums onto their
silver plans (here's why), meaning the more robust Gold
plan could actually be more affordable.
But it's also possible reports of $ 0 bronze
plans and low - cost
silver plans — the result of higher
premium tax credits inadvertently created by Trump — lured existing policyholders to the marketplace for some comparison - shopping (in which case auto - enrollment numbers might be lower).
That's essentially because many states front - loaded the resulting
premium increases onto their
Silver plans and the price of a
Silver plan dictates how much of a
premium tax credit (still a thing) people qualify for.
Alaska -LRB--22.5 %), Arizona -LRB--2 %), Minnesota -LRB--15.1 %) and North Dakota -LRB--9.8 %) all saw
premiums for their lowest - priced
silver plans go down, setting them apart from every other state in the union.
The value of
premium tax credits is pegged to the cost of
silver plans, so the rise in price actually meant many people received more help paying for individual
plans.
And, the day before Trump's announcement, California's state exchange announced it would require insurers to add a surcharge to
premiums for
silver - level
plans.
Especially if you live in a state that is increasing
silver premiums in response to the CSR cuts, a gold
plan could end up being more affordable.
ACA
premium subsidies are tied to the cost of a
silver plan, and ACA cost - sharing subsidies are only available if enrollees pick
silver plans.
For the unsubsidized consumer, he or she has to decide if the lower deductibles of a
silver plan is worth the higher
premium given the consumer's personal health care usage.
Silver plans are the most popular
plan among consumers who receive
premium subsidies on state - run health insurance exchanges.
Below you can see the maximum amount you will spend on insurance
premiums (for a
silver plan) based on your income.