What Are Different Types Of Health Insurance Plans Categories?

Nowadays the market is flooded with different types of affordable health insurance Oregon plans. There are multiple individual health plans Oregon and family health insurance plans. Thus, before purchasing any plan people should know about the key differences. This way they can make the process of buying an affordable health insurance plan simpler. Now let us check out the major categories of health insurance plans available.

Basically, there are four categories: Platinum, Gold, silver and bronze. As per the name of the plan people can understand the costing comparison of the plans. The quality is best and kept constant in all the categories. 

Once the buyer has purchased the insurance policy then he has to pay the fees called a premium amount. Here one thing should be noted that even if the buyer is not availing any medical services even then he has to pay the full premium of the plan he availed. In case the user is availing services then he has to manage his out of pocket cost himself. This out of pocket cost is calculated according to the type of plan and type of disease. Thus, the buyer should check the deductible amount carefully before purchasing the plan. To know more about this, let us check the features of every category:

•          Bronze category: Lowest premiums and high care costs

Bronze deductibles: This is the amount of medical expenses the buyer has to pay before the plan starts to pay. In this category, the cost can go more than $1000 per year. The plan is a best choice for the people who want to protect them from the serious injuries or disease in low-cost premiums. The monthly premium is low and they’ll get the same quality of care as in other categories.

•          Silver category: A little bit higher monthly premium than the plans in the bronze category.

Silver deductibles: In the case of silver deductibles, the buyer has to pay a little bit less amount on medical expenses before the plan is in working condition. The plan is definitely a good choice for people who like extra savings. They can save a lot of dollars according to the medical services availed.

•          Gold category: High monthly premiums

Gold Deductibles: Here people availing this plan has to pay a very low amount before the plan pays. This plan is best for the people who like to avail services many times in a year. They are basically paying a good amount to save their money. This can be only done by availing services multiple times.

•          Platinum category: This is the category with the highest premium (monthly)

Platinum deductibles: In platinum deductibles, the buyer experiences the lowest cost while availing the best treatment in the town. Low deductibles mean that the plan starts paying earlier in comparison to the other plans. The platinum category is a good choice for the people who can pay high monthly premiums. The major benefit is that almost all the extra costs are covered in this.

Income effect: Here, the buyer can save a lot of money on the basis of his monthly income. While filling the application of purchasing insurance, the buyer can qualify for the savings.