Metal tiers: Bronze, Silver, Gold, and Platinum

When the Affordable Care Act was passed, it established metal tiers to make it easier for consumers to compare qualified health plans across insurance companies.

These four Obamacare (opens in new tab) coverage levels are sometimes called “metal plans” because of their names: Bronze, Silver, Gold, and Platinum. No matter which metal tier they are in, these plans all offer the same essential health benefits. The difference between the tiers is how much you'll pay for care versus how much your plan will cover.

What does each tier cover?

To be approved as a qualified health plan in a particular metal tier, the plan must cover a certain different percentage of your health care costs overall. This is sometimes called the plan's “actuarial value.” Here's how much of your care plans in each metal tier will pay:

• Bronze plans: 60%
• Silver plans: 70%
• Gold plans: 80%
• Platinum plans: 90%

Since Bronze plans pay 60% of your care and you pay the other 40%, they cost less on a monthly basis than Gold and Platinum plans. Gold and Platinum plans have higher premiums (opens in new tab), but they pay for more of your care if you're sick.

Silver plans are special because a form of financial aid called a cost-sharing reduction (or CSR (opens in new tab)) can only apply to Silver plans. That means if you qualify based on your income, you could get a Silver plan with a reduced deductible as well as a relatively low premium.

Are there any other marketplace options available?

If you qualify, you may be able to sign up for a catastrophic plan (opens in new tab). This type of plan is best only if you want to cover worst-case scenarios, since it has a very high deductible but the lowest premiums. Catastrophic plans are only available to people under 30, as well as people of any age who apply for and receive a hardship exemption from the requirement to have health insurance. When you sign up for health insurance on the marketplace, you’ll also find out if you qualify for CHIP (opens in new tab) or Medicaid.

How do I choose the right tier plan for me?

There are a number of factors you should take into consideration when choosing the health insurance plan that’s right for you. But, generally speaking, the following can help you make your decision:

• If you visit the doctor often or have regular prescriptions, consider a Gold or Platinum plan.
• If you rarely see the doctor and don’t have any regular prescriptions, consider a Bronze or catastrophic plan.
• If you qualify for a cost-sharing reduction, a Silver plan may be the best value for you as it’s the only tier where you can qualify for a reduced deductible.