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Choosing an appropriate health insurance policy that can best suit a family is not at all an easy task. It involves lots of risks as well as decision-making ability. The main motto of a health insurance plan or policy is to protect a person or family financially or economically when any kind of health problem emerges. It is a kind of licit agreement between policyholder and insurance company. Under the Patient Protection and Affordable Care law or Obama care health reforms almost every type or genre of health insurance plans are having or are comprised of specific features as well as preventive care services with no additional cost but still it is important to take a good decision while choosing a health insurance plan under Obama care health reforms act.
The best way or manner to choose a health insurance policy is to consider a family’s economic need as well as medical or health care needs. It is also wise to choose a health insurance plan with high deductible rates. But before discussing the ways of how to choose a medical care insurance policy or plan for your family it is prudent to know and also to understand the types and genres of health care plans under the Affordable Care law. Let us take a brief tour of the types of plans that the Obama Care health reforms offer.
The four level metal plan under Obama Care.
The ACA’s four level of metal coverage helps to estimate and simplify the percentage of cost-sharing expectations. The cost-sharing percentages, as well as the four metal levels, are as below-
Bronze – Approximately around 60% of covered health care expenses paid by the policy and around 40% of the cost paid by the consumer.
Silver – Approximately around 70% of covered medical expenses paid by the insurance policy and 30% by the consumer.
Gold– Approximately around 80% of medical expenses covered paid by the policy and 20% by the consumer.
Platinum– Approximately around 90% of covered medical expenses paid by the policy and around 10% by the consumer.
Bronze policies under the Affordable Care law generally or usually have the lowest monthly premiums and the highest cost-sharing percentage. Platinum health insurance policies generally have the highest monthly premiums and lowest percentage of cost-sharing.
How to choose a health care plan?
For finding or choosing health care plans under the ACA law a person can follow the following steps-
It is very much essential for any family or individual to have or own a health care policy so that it can help to protect your health as well as money at times of need.