Generally the best, most affordable plan is a Silver Plan wit and HSA, and for low income it’s Medicaid/CHIP. For seniors, the most affordable health insurance is Medicare A & B.

Silver Plan is one Type of Metal Plan on the Health Insurance Marketplace. This plan qualifies for Tax Credits and Cost Sharing Subsidies.  The other Metal Plans include Bronze, Gold, and Platinum. There is a Catastrophic Plan that is available to both young adults as well as some people with hardship exemptions.

The standard Markeplace plan is the Silver Plan. It costs the second lowest and is used as the benchmark plan when subsidies are being determined. The largest perk of the Silver Plan is that it can be paired with both Cost Sharing and Tax Credit reduction subsidies. Anyone who qualifies for Cost Sharing Reduction Subsidies will find their best value here.

All Plans are Different

Plans vary depending on your region. A silver plan can have a wide range of benefits, costs, and networks.  There is also no solid rule for what benefits a cost sharing plan will offer beyond the mandated minimum requirements. This means a plan could cover only certain drugs, limit how many times you are able to access a service, or provide high cost sharing in one location and low cost sharing in another location.

If you earn between 100%-250% of the Federal Poverty Level, it is likely you will want a Silver Plan from the Marketplace. It will be the only way to  maximize your savings. Your out-of-pocket costs will be based on income and it is unlikely to go wrong.