The primary difference between the different metal tiers is the percentage of costs that are covered by the plan. Here’s the breakdown of each tier:
- Bronze plans are designed to cover ~60% of expected costs for the average individual
- Silver plans are designed to cover ~70% of expected costs for the average individual
- Gold plans are designed to cover ~80% of expected costs for the average individual
- Platinum plans are designed to cover ~90% of expected costs for the average individual
On one end of the spectrum, Bronze plans have lower premiums, higher deductibles, and higher max-out-of-pocket costs. On the other side, Platinum plans have much higher premiums, lower deductibles, and lower max-out-of-pocket costs. The metal tiers have nothing to do with the quality of care or coverage – they are simply about consumer preference regarding costs.
To make your decision, it really comes down to how much you expect to use your health plan, and what you are comfortable with from a financial perspective. The lower the metal level, the lower the known cost (premium) but the higher the potential unexpected cost (max-out-of-pocket), and vice versa. When you enter your doctors, prescriptions, and conditions on Take Command Health we use this information to help estimate your costs to give you the most complete picture of what you can expect with each plan. We tend to recommend Bronze and Silver plans in most situations, and generally only recommend Gold and Platinum plans in specific scenarios.