The big change for the Gold plan was an increase in the MOOP from $6,000 in 2018 to $7,200 in 2018. That is a 16% increase. Before 2018, the Gold plans did not make a lot of financial sense considering they were so much more expensive than Silver plans. In 2018 the Gold plan MOOP was reduced to $6,000 and the Silver plans offered through Covered California were artificially inflated by approximately 10%. This meant for consumers receiving very little monthly tax credit subsidy, they were better off enrolling in a Gold plan because for some carriers the rate was less than the Silver plan.
How do we know the insurance companies aren’t getting the same cash discount? If the hospital accepts $500 from the patient to satisfy the bill, has the plan member they really met their deductible?
Health Insurance Sucks!So you are out getting some exercise walking in the neighborhood when a rogue dog starts chasing you. The dog’s owner calls him off but not before you trip and bang up your knee and ankle. As you trudge over to urgent care you feel ‘OK’ knowing you have health insurance. Then the bite, […]
Nothing causes as much consternation when reviewing health insurance quotes as the size of the deductible. Do you choose a high deductible to reduce your premium or select a low deductible to reduce your exposure to unexpected high medical costs? The deductible within any insurance policy serves a couple of purposes. First, you are shouldering […]