Different Types of Health Plans

How are the plans different? Each one pays a set share of costs for the average enrolled person. The details can vary across plans. In addition, deductibles — the amount you pay before your plan picks up 100% of your health care costs — vary according to plan, generally with the least expensive carrying the highest deductible.

• Platinum: covers 90% on average of your medical costs; you pay 10%
• Gold: covers 80% on average of your medical costs; you pay 20%
• Silver: covers 70% on average of your medical costs; you pay 30%
• Bronze: covers 60% on average of your medical costs; you pay 40%
• Catastrophic: Catastrophic policies pay after you have reached a very high deductible ($8,150 in 2020).  Catastrophic plans must also cover the first three primary care visits and preventive care for free, even if you have not yet met your deductible.

Each insurance brand may offer one or more of these four common types of plans:

• Health maintenance organizations (HMOs)
• Preferred provider organizations (PPOs)
• Exclusive provider organizations (EPOs)
• Point-of-service (POS) plans
• High-deductible health plans (HDHPs), which may be linked to health savings accounts (HSAs)

Take a minute to learn how these plans differ. Being familiar with the plan types can help you pick one to fit your budget and meet your health care needs. To learn the specifics about a brand’s particular health plan, look at its summary of benefits.