obamacarequote.com

Serving ACA (Obama Care) in Texas, Mississippi, Florida, and Georgia

obamaCare
  1. Home
  2. Knowledge Base
  3. Getting Started
  4. Gold Copay Plans: Copays, Deductibles and Coinsurance

Gold Copay Plans: Copays, Deductibles and Coinsurance

Gold plans typically come with a higher monthly premium, but in certain areas, they may have a similar cost to a silver plan. These plans offer reduced deductibles and lower healthcare expenses. Gold plans usually involve a cost-sharing ratio of 80/20, where the plan covers 80 percent, and you are responsible for the remaining 20 percent.

Copays refer to the fixed amount you contribute towards a covered healthcare service prior to the commencement of plan coverage.

A deductible is a specific sum you are responsible for paying within a year before your plan initiates coverage for particular services. With a Platinum (or Gold) plan, you won’t have to be concerned about a deductible; your plan will assist with the cost of care immediately upon seeking services.

Coinsurance is the portion of expenses you are responsible for when receiving a covered healthcare service, calculated as a percentage. Under a Gold plan, you would cover 20 percent of your hospital stay costs, while your plan would handle the remaining 80 percent.

Was this article helpful?

Related Articles

Need Support?

Can't find the answer you're looking for?
Contact Support
Spanish »