Open registration for 2022 is here and ends on 15 January. Plans have different premiums and own costs and may vary in terms of services covered and benefits. Knowing a few things before comparing can simplify the process of choosing a plan.
Understand your options when comparing Marketplace plans
- Metal categories like bronze, silver, gold and platinum show how you and your plan share the cost. They have nothing to do with the quality of care. Whichever metal category you choose, you can save a lot of money on your monthly premium based on your income. But if you qualify for cost-sharing reductions, choose Silver to get the extra savings.
- There are also different plant types, such as HMO, PPO, POS and EPO. Some types allow you to use almost any doctor or healthcare facility. Others narrow down your choices or charge more if you leave the network.
- Consider the total health expenses, not just the bill (“premium”) you pay to your insurance company each month. Other amounts, sometimes called “out-of-pocket” costs, have a huge impact on your overall spending. Before you decide, think about how much care you will normally use or are likely to use in 2022.
Regardless of level, type or price, all Marketplace plans cover significant health benefits, coverage for pre-existing conditions and free preventative care.