You have choices when you shop for health insurance. Each insurance brand may offer one or more of these four common types of plans:
- Health Maintenance Organization (HMOs)
- Preferred Provider Organization (PPOs)
- Exclusive provider organizations (EPOs)
- Point of Sale Plan (POS)
- High Deductible Health Plans (HDHPs), which may be linked to health savings accounts (HSAs)
If you’re buying from your state’s Marketplace or from an insurance broker, you’ll choose from health plans organized by the level of benefits they offer: Bronze, Silver, Gold, Platinum and Catastrophic. Bronze plans have the least coverage, and platinum plans have the most. If you are under 30, you may also be able to buy a high-deductible, catastrophic plan.
- Platinum: covers 90% on average of your medical costs; you pay 10%
- Gold: covers 80% on average of your medical costs; you pay 20%
- Silver: covers 70% on average of your medical costs; you pay 30%
- Bronze: covers 60% on average of your medical costs; you pay 40%
- Catastrophic: Catastrophic policies pay less than 60% of the total average cost of care. Catastrophic plans must also cover the first three primary care visits and preventive care for free, even if you have not yet met your deductible.