The health plan categories: Bronze, Silver, Gold & Platinum
Plans in the Marketplace are presented in 4 health plan categories: Bronze, Silver, Gold, and Platinum. (“Catastrophic” plansare also available to some people.)
Notice:
FYI
Health plan categories are based on how you and your plan split the costs of your health care. They have nothing to do with quality of care.
How you and your insurance plan split costs
Estimated averages for a typical population. Your costs will vary.| Plan Category | The insurance company pays | You pay |
|---|
| Bronze | 60% | 40% |
| Silver | 70% | 30% |
| Gold | 80% | 20% |
| Platinum | 90% | 10% |
Which health plan category is right for you?
Bronze
- Lowestmonthly premium
- Highestcosts when you need care
- Bronze plan deductibles — the amount of medical costs you pay yourself before your insurance plan starts to pay — can be thousands of dollars a year.
- Good choice if:You want a low-cost way to protect yourself from worst-case medical scenarios, like serious sickness or injury. Your monthly premium will be low, but you’ll have to pay for most routine care yourself.
Silver
- Moderatemonthly premium
- Moderatecosts when you need care
- Silver deductibles — the costs you pay yourself before your plan pays anything — are usually lower than those of Bronze plans.
Notice:
Getting extra savings with a Silver plan
- If you qualify for
A discount that lowers the amount you have to pay for deductibles, copayments, and coinsurance. In the Health Insurance Marketplace®, cost-sharing reductions are often called “extra savings.” If you qualify, you must enroll in a plan in the Silver category to get the extra savings.
Refer to glossary for more details.
- If you’re enrolled in a Silver plan and lose your cost-sharing reductions:You’ll qualify for a Special Enrollment Period. If you want to change plans, you can enroll in a Bronze, Silver or Gold plan that meets your needs and fits your budget.
- Good choice if:You qualify for “extra savings” — or, if not, if you’re willing to pay a slightly higher monthly premium than Bronze to have more of your routine care covered.
Gold
- Highmonthly premium
- Lowcosts when you need care
- Deductibles — the amount of medical costs you pay yourself before your plan pays — are usually low.
- Good choice if:You’re willing to pay more each month to have more costs covered when you get medical treatment. If you use a lot of care, a Gold plan could be a good value.
Platinum
- Highestmonthly premium
- Lowestcosts when you get care
- Deductibles are very low, meaning your plan starts paying its share earlier than for other categories of plans.
- Good choice if:You usually use a lot of care and are willing to pay a high monthly premium, knowing nearly all other costs will be covered.
Notice:
Note:Plans in all categories provide free preventive care, and some offer selected free or discounted services before you meet your deductible.
Your premium can be lower, based on your income
No matter which health plan category you choose, you can save a lot of money on your monthly premium based on your income.
FAQs
A Silver plan has a lower monthly premium than a Gold one, but a Bronze plan has the lowest monthly premium with the highest cost-sharing requirements of all the plans, while a Platinum insurance plan has the highest monthly premiums and lowest out-of-pocket costs.
Which is higher, Bronze or Platinum? ›
Bronze represents the lowest level of coverage (except catastrophic plans, see below). Platinum represents the highest level of coverage.
Should I choose a Silver or Bronze plan? ›
Silver plans make sense for those who are willing to pay a higher premium than Bronze coverage in exchange for lower out-of-pocket expenses when they visit the doctor. Silver plans are also the go-to choice for anyone who qualifies for cost-sharing reductions based on their income.
What describes the four tiers of qualifying health plans? ›
Levels of plans in the Health Insurance Marketplace ®: Bronze, Silver, Gold, and Platinum. Categories (sometimes called “metal levels”) are based on how you and your insurance plan split costs. Categories have nothing to do with quality of care. (“Catastrophic” plans are available to some people.)
What is the metal level classification of health plans? ›
The lower the metal tier, the lower the monthly health insurance premiums and the higher the out-of-pocket costs. The higher the metal tier, the higher the premiums and the lower the out-of-pocket costs. It is crucial to know that metallic levels only refer to costs shared by the individual and the plan.
Is platinum health insurance worth it? ›
Platinum health coverage might be worthwhile if you have very high annual medical expenses. However, if you don't have significant, ongoing health issues, you'll likely be better off with a less expensive form of health insurance.
What is higher bronze silver or gold? ›
However, in most cases, gold medals are considered to be the most valuable and prestigious, followed by silver and bronze.
Is it better to have a high or low deductible for health insurance? ›
Low deductibles are best when an illness or injury requires extensive medical care. High-deductible plans offer more manageable premiums and access to HSAs. HSAs offer a trio of tax benefits and can be a source of retirement income.
Is Gold or Silver better for health insurance? ›
A Silver plan has a lower monthly premium than a Gold one, but a Bronze plan has the lowest monthly premium with the highest cost-sharing requirements of all the plans, while a Platinum insurance plan has the highest monthly premiums and lowest out-of-pocket costs.
Is a bronze health plan good? ›
Bronze plans usually have the lowest monthly premiums but the highest costs when you get care. They can be a good choice if you usually use few medical services and mostly want protection from very high costs if you get seriously sick or injured.
Platinum
- Highest monthly premium.
- Lowest costs when you get care.
- Deductibles are very low, meaning your plan starts paying its share earlier than for other categories of plans.
- Good choice if: You usually use a lot of care and are willing to pay a high monthly premium, knowing nearly all other costs will be covered.
Obamacare subsidy income limits for 2024
| Household size | Min. income | Typical max. income |
|---|
| 2 | $19,720 | $78,880 |
| 3 | $24,860 | $99,440 |
| 4 | $30,000 | $120,000 |
| 5 | $35,140 | $140,560 |
1 more rowJan 2, 2024
Best health insurance companies of 2024
- Kaiser Permanente: Best health insurance.
- Blue Cross Blue Shield: Best health insurance for the self-employed.
- UnitedHealthcare: Best health insurance provider network.
- Aetna: Best health insurance for young adults.
Platinum: Platinum plans have the highest monthly premiums and lowest costs for healthcare use.
What is the maximum out-of-pocket for insurance? ›
What is an Out-of-Pocket Maximum and How Does it Work? An out-of-pocket maximum is a cap, or limit, on the amount of money you have to pay for covered health care services in a plan year. If you meet that limit, your health plan will pay 100% of all covered health care costs for the rest of the plan year.
What is the difference between Platinum, Gold, silver, and bronze level plans as mandated by the Affordable Care Act? ›
On average, Platinum-level plans cover 90 percent of health care costs, and you pay 10 percent; Gold plans cover 80 percent, while you pay 20 percent; Silver plans cover 70 percent, while you pay 30 percent; and Bronze plans cover 60 percent, while you pay 40 percent.
What metal is higher than platinum? ›
Palladium is currently the most expensive of the four major precious metals - gold, silver, platinum and palladium. It is scarcer than platinum, and is being used in great quantities for catalytic converters in cars. Because of this, prices have swung between the two metals.
What is higher than platinum level? ›
The standard levels of sponsorship are the “Silver”, “Gold”, and “Platinum”. Each one offers progressively more attractive benefits. For sponsors seeking something more exclusive, there's the “Diamond” level.
What is higher than a platinum? ›
In the image above, you can see Diamond is regarded as higher than Platinum.
Is platinum below bronze? ›
Some multiplayer video games feature a hierarchy of players that uses precious metal names to distinguish the various levels of skill, often progressing from Bronze to Silver, to Gold, to Platinum, then to Diamond.
