Even though health insurance isn’t compulsory but staying very long without health coverage isn’t a good option because ailments or health emergencies can happen at any time and place without prior notice. And with no proper insurance, you will be responsible for 100% of your medical bills, which means biding bye to tens and thousands of dollars just in a few minutes.


Although, there is no certain number when it comes to the actual insurance value because health insurance providers update their deductibles, premium, and out-of-pocket maximums on a yearly basis.


However, in this blog post, we will cover three types of Hawaii medical insurance plans based on the metal tier.


1- Gold and platinum plans for high expected medical costs:

Gold and platinum policies get considered as the higher tier health insurance plan that covers the most considerable share, such as deductibles, coinsurance, and copays. But these benefits come at the expense of hefty premiums. 

Gold and platinum health insurance plans are quite effective for high medical expenses that come with chronic illness or expensive prescriptions. On average, you can cover 80% of the health expense while paying only 20%.


2- Silver plans for low-income and average medical costs:

Silver plans are the middle tier plan that is best for lower-income households or small business health plans in Honolulu. A typical silver health insurance plan will cover up to 70% of the medical expenses, with a premium of almost 30% from your end. On the bright side, if CSR subsides, you can qualify for a silver plan that covers nearly 94% of the medical expense.


3- Bronze and catastrophic plan for young and healthy lifestyle people:

The catastrophic plan has the lowest premium and is limited to people under 30 or who get qualified for exemption. These plans get recommended if you have some financial means to cover the large portion of medical expenses during emergencies because the coverage is quite low. 

Bronze plans are open to everyone and similarly offer cheaper monthly premiums. A Bronze plan covers about 60% of your health cost, and an expanded plan can cover up to 65%. 


Bottom line


In addition to these metal tier, it is important to note that your family and their ages will have a significant impact on the monthly premium. The cost of insurance will remain low until the child turns 15 years old; later, you can expect an annual increase in premium as they grow older.


If you are looking forward to taking a small business health plan in Honolulu, connect with UHA Health Insurance to get a better plan and coverage.

Author's Bio: 

Alena Mathew is a Health and beauty addict and By profession, she is Digital Marketing Expert. Her passion for reading has given her a platform to expand her thinking from which she has penned down articles on many topics in several areas of different industries.