What Obamacare Bronze, Silver, Gold, and Platinum Really Mean
Confused by all the different plan options Obamacare is giving you? Don't be. Get the answers you need to understand the Affordable Care Act's platinum, gold, silver, and bronze policy options.
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What Obamacare Bronze, Silver, Gold, and Platinum Really Mean
Obamacare's health-insurance exchanges have finally opened, and millions of people across the nation are finally getting to enroll for health insurance under the Patient Protection and Affordable Care Act. But many are confused by all the plan options they have available to them.
In the following video, host Alison Southwick interviews Dan Caplinger, The Motley Fool's director of investment planning, to learn more about Obamacare's plan options. Dan explains that the various tiers refer to different levels of coverage, with platinum policies generally charging the highest monthly premiums but also providing the lowest copayments, deductibles, and other out-of-pocket costs. By contrast, as you run through gold, silver, and bronze, you're progressively more responsible for covering health-care costs, but your monthly insurance premiums are lower.
Dan runs through the actuarial calculations behind the levels and points out that some subsidies under Obamacare require particular policy choices. In the end, though, the right plan for you depends on your own health, financial situation, and other personal considerations.
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How much do you really know about the Affordable Care Act? "Obamacare," as it's often called, has been one of the most controversial pieces of legislation of the past several decades. But now, what matters most isn't what side of the debate you fall on -- it's how well you understand the impact that this legislation will have on your life. As a consumer of health care, as a taxpayer, and as an investor, are you prepared for the changes and challenges that Obamacare will bring? Knowledge is power: Click here now for FREE access to "Everything You Need to Know About Obamacare." It's The Motley Fool's concise, objective guide to dealing with -- and potentially even profiting from -- the transformative effects of this legislation.
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What Obamacare Bronze, Silver, Gold, and Platinum Really Mean
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