What is the 'Obamacare' Bronze Plan?
The open enrollment period begins for the new health plans created by the Affordable Care Act (a.k.a. Obamacare) on Oct. 1, yet most Americans couldn’t name one of the new health plans let alone describe all the services they cover.
The Bronze Plan is the entry-level option of these new health plans. It is a private health plan, which means you will pay an insurance company to enroll in the plan rather than receiving the plan for free from the government. However, depending on your income level, you may qualify to receive a subsidy from the government to lower your monthly premium and lower the maximum amount of health care out-of-pocket costs you can pay in a year.
The Bronze Plan is likely to be the most popular of the new plans since it is expected to have the lowest premium out of the available options. Below is a summary of what is known and not known about this new “Obamacare” plan.
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