To make it easier to identify which plans will be best for your situation, we’ve split all the various metal plans into four different levels, or categories, of coverage. These categories were decided based on two things: how much the plan will cost you each month and how much cost the plan will cover (on average) for any medical fees.
While the plans in the gold coverage category are still more expensive, If you use a lot of care, a gold plan could be a good value. If your plan fits in this level of coverage, you can expect your insurance will cover roughly 80% of your medical costs after you’ve met your deductible.
The silver category of plans falls right in the middle in terms of actuarial value and cost to you. Actuarial value is the average cost paid by the insurance company, and with the silver—or base—plans, your insurance will cover approximately 70% of your medical costs after you’ve met your deductible.
IMPORTANT: If you qualify for “extra savings” on your deductible, co-payment, and coinsurance (sometimes called “cost-sharing reductions”) you must pick a Silver plan to get the extra savings. You can save hundreds or even thousands of dollars per year if you use a lot of care.
The bronze category of insurance plans is more affordable on a per month basis than the silver, gold or platinum levels. That being said, your insurance will only cover 60% of your total cost after you’ve met your deductible.
Finally, the catastrophic level of insurance plans will cost you even less each month, but offer the lowest amount of coverage. As the name implies, these insurance plans are designed to help in the event of a catastrophe, but won’t do as much when it comes to general medical services or preventative care. The catastrophic level of plans will cover less than 60% of your medical costs, after you’ve met your deductible.
For each plan, however, there is still a portion of cost that must be paid by the enrollee. A deductible is the amount of money you need to pay first, before your health plan benefits can be used. On top of this deductible, there is also a copayment, which is an amount of money you pay on the day of service, after you see your doctor or when you pick up a prescription, for example.
While different plans will work better for different people, we’re confident that you can find your perfect plan at Nevada Health Link. To see what plans you may qualify for, check out our window shopping tool. The enrollment period is starting soon, so make sure you are prepared and get covered.
If you currently don’t have health insurance, Nevada Health Link is here to help. As part of a Qualifying Life Event (QLE), you may be eligible for a Special Enrollment Period (SEP). In other words, certain life events or situations, such as job loss, income change, marriage/divorce or birth/adoption of a child, may allow you to enroll in an insurance plan through Nevada Health Link outside of the annual open enrollment period.
All of our health plans exist to reduce the costs of health insurance and make sure you are covered. We’re always to help, so don’t hesitate to reach out for assistance.