QUESTION

I’m seeing some silver plans with cheaper premiums than bronze plans. Aren’t bronze plans supposed to be the least expensive?

Individuals with no coverage | Comparing Plans: Benefits and Costs
ANSWER

Not necessarily. There may be silver plans that have the same or lower premiums as bronze plans. Premium prices are one factor to consider when choosing a health plan. You’ll also want to factor in the out-of-pocket costs required under each health plan. Out-of-pocket costs like deductibles, copayments or coinsurance are amounts you are responsible for before or while you are using your health coverage. If you don’t anticipate using your health insurance coverage, then purchasing a health plan with low premiums may be the appropriate choice; however, if you experience an unexpected injury or medical condition, you will face higher out-of-pocket costs. Under the Affordable Care Act, these costs are capped at $7,350 for self-coverage and $14,700 for family coverage in 2018. (82 Fed. Reg. 18346, April 18, 2017; 81 Fed. Reg. 94058, Dec. 22, 2016).

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