Monthly premiums are important, but they’re not all you need to think about. Picking a plan only because its premium is low may not be the best decision for you.
If your plan has a lower monthly premium, your out-of-pocket costs may be higher when you need care.
If your plan has a higher premium, your out-of-pocket costs may be lower when you need care.
Generally speaking, the lower your monthly premium the higher your out-of-pocket costs will be. It’s important to keep this in mind when you compare plans.
If you make $11,670 to $46,680 for individuals or $23,850 to $95,400 for a family of 4, you may qualify for premium tax credits that can lower your monthly premiums. The lower your income is within these ranges, the bigger your tax credit and the more you save.