Video · Health · Business
Ten minutes: reading your first marketplace health quote
A plain walk through the numbers on a quote, with the transcript you can question.
Transcript
A quote shows five numbers that matter. The premium is what you pay each month. The deductible is what you pay before the plan starts sharing costs. The out-of-pocket maximum is the most you can pay in a year for covered care.
Look next at the network. A low premium with your doctor outside the network is not a low cost. Check that the doctors and the prescriptions you use are covered before you choose.
Every marketplace plan is compared against a benchmark plan. The tax credit is worked out from the benchmark, not from the plan you pick. That is why a cheaper plan can leave you with more of the credit in your pocket.
If you are self-employed, your income estimate decides your credit. Estimate it honestly and update it during the year. Our subsidy-cliff article shows why.