Nevada has many types of health plans. Some plans have lower premiums while others have higher deductibles. You can select a plan to fit your needs depending on what you need. A HMO plan can cover the cost for most doctor's appointments. However, emergency care is not included. HMO plans tend to be cheaper than other types of healthcare plans but come with higher deductibles. An EMO plan is similar to an HMO plan, but does not require a referral from your primary care physician.
Silver-tier plans offer lower premiums
In the state of Nevada, silver-tier health plans have lower premiums than gold-tier plans. Silver plans offer cost-sharing discounts for families with incomes above 250% of the federal poverty limit. This cost-sharing reduction allows a family to receive the coverage of an Gold plan for less than a Silver. Some plans cover office visits without a minimum deductible.
Plans with gold-tier status have higher premiums
Premiums for Gold-tier health plans in Nevada are generally higher than those for Bronze-tier plans. Nevada's average premiums for 40-year-olds are $578 compared to $629 in a Bronze plan. Premiums are less if you take into account cost-sharing reductions. People with lower incomes can qualify for cost-sharing reductions, which reduce the amount they have to pay in deductibles, copayments, and coinsurance.
Lower deductibles are offered by Bronze-tier plans
It is important to compare the deductibles for each plan when comparing health insurance plans. The monthly premiums for Bronze-tier plans will be lower in Nevada, but they have higher maximums. They will also cover around 40% of medical costs. This plan is for those who have a healthy lifestyle and wish to save money on their monthly premiums. The downside is that bronze plans only cover medical emergencies. This plan is not for those who have a history of serious medical conditions.
Medicaid is free in Nevada
Medicaid is free healthcare insurance for people who have low incomes and special medical needs. This state program provides health insurance for low-income people and their families by sending monthly payments directly to health care providers. The applicant must be a U.S citizen or permanent resident and live in Nevada to be eligible. Other conditions may also be considered. Applicants must also meet certain income requirements.
Medicare in Nevada is more affordable
Nevada has more than 558,000 Medicare participants. There are a number of Medicare plans available in Nevada, from low-cost Medicare Supplement Plans to more comprehensive Medicare Advantage plans. These plans are available to people who became eligible for Medicare prior to January 1, 2020. They can be used for out-of pocket expenses.
Silver-tier plans include a Health Savings Account
A lot of Silver-tier health plans include a health savings account. This can be very attractive for people who struggle to pay for their health care. For those earning between 138%-250% of the federally poverty level, Silver plan members can be eligible for cost sharing reductions. This allows these families to get coverage equivalent to that of a Gold plan at a fraction of the cost.