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How To Choose An Affordable Health Insurance Plan

Affordable health insurance plan is available regardless of where you live or your zip code in Palm Beach County FL Florida.All health plans in the market place are separated into four distinct types of metallic plan levels.

1. Bronz

2. Silver



These plans indicate how you and the insurance company will share in your health care cost.We will explain the different coverage levels and explain key terms to help you decide which plan will work best between Bronz, Gold,Silver and Platinum health plans.

Understand your Out of Pocket Cost

The amount of money you pay monthly for your medical insurance is called premium. You will pay this amount monthly even if you don’t get sick or go to the doctor or visit a hospital emergency room for medical care. Your plan coverage is base on co-payments and deductible, co-insurance and out of pocket maximum.

Depending on your plan your co-payments,deductible /co-insurance may be applied to your out of pocket maximum.

Health Insurance Company have different plans and different deductible and out of pocket maximum cannot exceed the  Federal limits as set forth under Healthcare Reform. The individual out of pocket maximum for 2015 is $6600.00 and family plans are $13200.

Tax Penalty for not having Health insurance

The penalty for not having health care plan that meet the federal requirement in 2016 is 2.5% of income

$695.00 per adult or $347.50 per child,which ever is higher.

Income to Qualify For a Tax Credit

The Income to qualify for health insurance in 2016 is an estimate of your income for 2016 expected gross income and for self employed individuals your net after business expenses.

House Hold Income

House hold income is counted for your spouse and every one you claim on your Federal Income Tax Return for 2016. Include individuals even if they don’t need health care coverage.

The health Plans offered by insurance providers are listed below with the percentage of covered health care cost  and maximum out of pocket Limits.

Bronz plan  60%       40%  you pay

Silver  Plan  70 %     30% you pay

Gold Plan    80%      20%  you pay

Platinum  90%         10%  you pay

The amount of your health care cost you will pay is subjected to out of pocket maximum.medical plans  for individuals regardless of age, 2015 maximum is $6600 and Family health plans is $13200.

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