Calif. Releases Standards For ACA Insurance
"The most important aspect of these benefits is they are standardized and they are adjusted according to income to lower costs for those with lower incomes," said
"Covered California is leading the way for consumers to make apples-to-apples comparisons when choosing health coverage," said
Consumers have four levels of plans from which to choose – Bronze, Silver, Gold and Platinum. Households earning less than 250 percent of the federal poverty level can receive financial help if they enroll in a Silver plan; the less income they earn, the more financial assistance they can receive. For example, individuals earning between 150 to 250 percent of the federal poverty level can expect to pay
To be eligible for financial support, consumers must purchase plans from Covered California's marketplace. The
Examples of benefits, their costs, and typical premium costs are available on the newly launched Covered California website, www.CoveredCA.com. The website will deliver up-to-date information for consumers, and access to resources during the lead up to the open enrollment period this fall for coverage that starts
Critical next steps in the launch of Covered California include the selection of insurance carriers that will be allowed to participate in Covered California, and determination of the plan pricing.
About Covered California
For more information on Covered California, please visit www.CoveredCA.com.
What People are Saying
About Covered California's standard benefit plans
Consumers Union, President and CEO
"At Consumer Reports, our stock and trade is translating complex information into standardized formats for easy apples-to-apples comparisons. By standardizing its benefit designs, Covered California is leading the way in uniform products that allow valid comparisons of health insurance policies, taking the pain out of the dreaded experience of shopping for health insurance. For the first time, consumers without employer-based coverage will be able to readily assess what they are getting, what they are not getting, and the true value of various health insurance options. That's just plain common sense -- but in the health insurance world it's revolutionary. Bravo, Covered California, for holding consumer needs for understandable information at the forefront."
Anthem Blue Cross, President
"With the establishment of this standardized benefit package, Covered California has achieved a major milestone toward the launch of the new, reformed health insurance marketplace. As important as the result was the intensely collaborative process that produced it. Covered California's diligence in hearing all voices bodes well for its success in meeting the many tough challenges that lie ahead."
"We applaud Covered California for its leadership in making the health coverage marketplace simpler for consumers. Consumer choice is a powerful tool, especially when it can be unleashed to reward quality, service, and price, and not be held back by complexity or other artificial barriers.
SOURCE Covered California
|Source:||PR Newswire Association LLC|