2020 Bronze 60: The Least Expensive Plan for Subsidies
The standard Bronze 60 Plan offers some benefits which make this plan a comfortable option for people who want to keep their premium down to a minimum and want a plan mainly designed to cover catastrophic events. This plan is the least expensive plan available with a subsidy or “advanced premium tax credits”. The highlights of this plan are below:
- This plan includes free preventative care like annual physicals, well-woman checkups, well-baby checkups and basic vision and dental services for children 18 and under.
This plan also waives the deductible for the first 3 office visits each year. These visits include Primary care ($75 copay), Specialist ($105 copay), urgent care ($75 copay) and outpatient mental health visits.
Laboratory work is a $40 copay immediately, which means you don’t need to reach your deductible first.
There is a $6,300 individual deductible and a $12,600 family deductible. This means that you will be responsible for all other services at full charge until your deductible is met.
The out-of-pocket maximum is $6,800 for individuals and $13,600 for families. If reached, your insurance kicks in at 100% for all in-network services until the end of the calendar year.
Is the Bronze 60 Plan Right for Me?
The Bronze plan may be right for you if…
- You are comfortable with a high deductible plan and mainly want protection for “worst case scenarios”.
You are in good health and typically use very few medical services in a year.
- You like the idea of saving money now and paying more later “IF” you end up using unexpected medical services.
Your goal is to comply with the Individual Mandate to have health insurance for the cheapest possible way and your income qualifies you for a subsidy.
- You can’t afford the Silver 70 plan.
- Your income qualifies you for a subsidy but not an Silver 87 Plan or Silver 94 Plan
- Your income does not qualify you for a subsidy and you are age 50 or over (At this age the cost difference between the Bronze and the Silver plans is often greater than $100 per month)
A Little More to Think About
Covered California offers two Bronze 60 plans. To review the plan benefits for the HSA Plan see the Bronze 60 HSA Plan. Generally we recommend the standard Bronze 60 plan over the Bronze 60 HSA plan because you will have lower out-of-pocket costs. See cost savings below:
- The premium price is usually very similar.
The deductible is waived for the first 3 office visits and lab work is not subject to the deductible for the Bronze 60 plan only.
The Bronze 60 plan has a $500/$1,000 (individual/family) separate drug deductible. For the Bronze 60 HSA the drug deductible is included in the medical deductible which is $4,800/$9,600.
After the deductible is met, the Bronze 60 offers benefits for a set dollar amount (copay) and the Bronze 60 HSA offers benefits at 40%.
Only when the advantages of having a Health Savings Account linked to your insurance plan outweigh the above benefits, do we advise a Bronze 60 HSA plan.