In a state Marketplace, there may be up to four levels of health coverage. Each plan design is named after a type of metal. So you may hear these called the metal plans. Each plan design must cover all the essential benefits.
A gold-level plan has one of the highest levels of coverage. It covers more health services than a bronze or silver plan, but fewer than a platinum plan. Each company that’s selling health insurance in a Marketplace must offer at least one gold-level plan. On average, a gold plan will cover 80% of the cost of covered services.
A health plan in the gold level may be a good choice for you if you expect to have a lot of doctor appointments, need many prescription medicines, or need other health services.
Gold plans have:
- More benefits. This means a gold health plan will pay for more health services than a plan at the silver or bronze levels but fewer than a platinum plan.
- High premium. You pay more each month for a gold plan than you would for another level of insurance except platinum.
- Lower out-of-pocket costs. With a gold plan, the amount you pay each time you get a health service, such as seeing a doctor or filling a prescription, is less than what you'd pay if you have a bronze or silver plan.