Obamacare News Blog

ObamaCare: Virginia Gold Plan Overview

With ObamaCare’s initial enrollment fast approaching Virginia’s Gold plan premiums are still not official. However all Gold plans much include the ObamaCare 10 essential health benefits, your insurance provider must pay 80% of your medical costs while you pay 20% until you meet your out-of-pocket max, and insurance companies must abide by the 80/20 ObamaCare Rule, where providers must spend 80% of their policyholders’ aggregate plan premiums on health care or refund their policyholders.

Virginia Gold Plan Details

Since we do not know Virginia’s Gold plan breakdown, we will use California and Colorado as an example of how Virginia’s plans may work. Colorado Gold plan deductibles range from $0 -$2,000, while the chart below is an example of a California Gold plan. The chart below is just for comparison:

Virginia: Gold Plan Premiums

While the state’s plans are being approved, again, we will use Colorado and California as an example. In Colorado the Gold premium for a 40 year old, non-smoker range from about $287 to $551 per month, and in California the premium ranges from $370 to $600. These figures do not include the ObamaCare federal premium subsidies, which can drop the premium significantly. Remember premiums are based off age, area, and provider. For your specific premium call 800-930-7956.

Gold Plan Differs from Other Metal Plans

The Gold plan has the second highest premium, with, generally, the same out-of-pocket costs as the Bronze and Silver plan. With the Gold plan you pay 20% in coinsurance, copays, deductibles, while the plan pays out 80% toward your medical costs until you meet your out-of-pocket max. Once that is satisfied you don’t pay anything else until the next year. The Gold plan could end up saving you money even over the lowest premium plan, the Bronze plan, because with the Gold plan your provider should start paying toward medical services even before the deductible is satisfied. Click here to compare the ObamaCare Bronze plan, Silver plan, Gold plan, and Platinum plan side-by-side.

For further questions call the number above or contact Medicoverage.