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How Much Is Connecticut Health Insurance?

In Connecticut,individual health insurance is available for buying through the AccessHealthCT state exchange. There, you can find a health insurance plan that fits your medical needs and financial situation. After reviewing all health plans provided in the state, we found that the Choice Silver Standard POS was the most affordable Silver plan available in half of Connecticut’s counties. In the other counties, the Silver PPO Standard Pathway X was the cheapest plan.

Cheapest Health Insurance Plan by Metal Tier

To help you find the best health insurance, we have compared plans at each coverage level to find the most affordable policies in Connecticut. The table below shows the cheapest health insurance plans for every metal tier, along with thedeductible, out-of-pocket maximum, and monthly premium for a 40-year-old. This should be used as your initial starting point for assessing the plan that makes the most sense financially, and that matches your medical needs.

Health insurance in Connecticut is broken into three categories metal tiers: Bronze, Silver, and Gold. As you can see from the table above, Bronze health insurance plans have the smallest premiums and the highest deductibles and out-of-pocket maximums. On the other hand, the Gold tier plans have the most expensive premiums but the lowest deductibles. For instance, the premium for the Gold is $177 more than the Bronze plan but has a deductible that is $4,750 less.

Finding the Best Health Insurance Plan in Connecticut

When looking for the best health insurance, it is important to consider your income level and expected medical expenses. Connecticut has expanded Medicaid to cover anybody that has a household family income of less than 138% of the federal poverty level. If you are not qualified for Medicaid coverage, then you would buy an individual health insurance policy through the state marketplace. Below, we have provided details concerning every metal tier and who they are best suited for.

Gold Metal Tier: Best If You Expect High Medical Costs

The Gold metal tier health insurance plan is best if you are older and expect to pay a lot in medical costs during the year. Even though these plans will cost the most, they have the lowest deductibles. This means that you can reach the deductible quicker and then access coinsurance benefits with the insurer. The Gold metal tier would be best if, for example, you want prescription drugs that are expensive and are required to be filled every month.

The inexpensive Gold plan in Connecticut is Gold HMO Pathway X Enhanced Tiered.

Silver Metal Tier: Average Deductibles and Premiums

Silver metal tier health insurance plans have moderate deductibles and premiums than other tires that are offered in Connecticut. For instance, the average cost of a Silver plan for a 40-year-old is $546. This is $131 more expensive cost as compared to the Bronze plan and $116 less than the Gold plan.

Silver plans are the only health insurance plans that are eligible for cost-sharing reductions if your household income falls below 250% of the federal poverty level. These deductions permit discounts on the amount that you pay in deductibles, copays, andcoinsurance. Because of this benefit, if you are eligible, then the Silver plan can be more cost-effective when compared to the Gold plan.

The inexpensive Silver plan in Connecticut is the Choice Silver Standard POS.

Bronze Meal Tier: Best for Young, Healthy People

The most affordable plan available in Connecticut is the Bronze tier. These health insurance plans have the lowest premiums but also the highest deductibles and out-of-pocket maximums. For this reason, Bronze is best if you are younger and in good health.

The affordable Bronze plan in Connecticut is Passage Bronze Alternative PCP POS.

Short-Term Health Insurance Plans in Connecticut

Short-term health insurance is available in Connecticut and can be useful to offer coverage if you are between jobs or missed open enrollment. Connecticut has added some regulations to short-term health insurance and limits the duration of these policies to six months and requires that they cover the essential benefits.Essential benefits are required for all marketplace health plans and allow persons to receive coverage for services like prescription drugs, maternity, and mental health care.

Nevertheless, short-term health plans will require you to take a medical exam or answer a health questionnaire and usually do not cover any of your preexisting conditions.

Call for your Quote Today

Stop waiting around! The right insurance provider is out there and we’re going to make sure you’re covered for the foreseeable future. Accidents can happen any time whether it’s day, night, workdays, or holidays. Insurance is the best way to prepare for the unpredictable, and a great way to secure your peace of mind. Give us a call today or fill out the form for a quote – you’ll be glad you did!

Resources and References:

• Essential Benefits
• Out-Of-Pocket Maximums