ACA Plans

The ACA introduced four plan categories—Bronze, Silver, Gold, and Platinum—to assist individuals in selecting health coverage that suits their needs and budget. Bronze plans generally have the lowest premiums but come with higher deductibles and out-of-pocket costs. On the flip side, Platinum plans come with the highest premiums but provide the lowest deductibles and out-of-pocket expenses.

Here’s a breakdown of each category:

Bronze Plans:

• Entry-level plans with the lowest premiums.
• Highest deductibles and out-of-pocket costs compared to other categories.
• Eligible individuals may qualify for a premium tax credit to reduce monthly costs and increase coverage.

Silver Plans:

• Slightly higher tier than Bronze plans.
• Higher premiums than Bronze plans, but lower deductibles and out-of-pocket costs.
• Eligible individuals can receive a premium tax credit to lower monthly payments.

Gold Plans:

• Second-highest tier of ACA plans.
• Typically higher premiums than Bronze and Silver plans.
• Offers more extensive coverage and lower out-of-pocket expenses than Bronze and Silver plans.

Platinum Plans:

• Highest tier with the highest premiums.
• Provides the most comprehensive coverage and lowest deductibles and out-of-pocket costs among the plan categories.