The California Exchange, more commonly known as Covered California, has 13 health insurance companies participating in the state run program. The health insurance exchange revealed proposed rates for the four types of plans offered through the exchange. The plans are divided into four tiers: Platinum, Gold, Silver, and Bronze. The most expensive benefits and most expansive coverage is provided on the Platinum and Gold Level. The Silver Plan is less expensive and has less benefits than the Platinum and Gold but more than the Bronze Level, providing the least benefits for the smallest cost.
Some Californians that currently purchase minimal health coverage may see increases in their rates due to the Obamacare provisions stating that prescriptions, maternity, and preventative care must be included in the coverage. This means that these individuals, and most likely healthy individuals, will be forced to pay more for benefits they don’t even use.
For more information on the health insurance exchange and the future cost of premiums, click here.