If your income is under the 250% poverty level, this is a very important and financially beneficial benefit to take advantage of. The ONLY WAY to take advantage of this cost sharing reduction is to pick and enroll into a “SILVER” plan. If you don’t pick a silver plan, you are passing up the extra savings. Many Nevadans will pick a Bronze plan because the overall monthly premium is less, however, in many cases, they don’t understand what they are giving up!

We’ve seen Nevadan’s enroll into a health insurance plan without help from a broker/agent, they buy the cheapest health plan available, shopping for the cheapest premium possible. If they’d understood this benefit, in some instances for just a few dollars more a month, their deductible could go from around $8000 down to sometimes as low as $0! Just to pay a few dollars less each month. You may not think it’s important, but one trip to the emergency room could cost you $0, or $8000+!

DO NOT harm yourself financially by picking a plan and not understanding the benefits you may be entitled to and may miss out on.
What does this mean exactly?

Let’s say you pick a bronze plan (the cheapest plan you can find). Then, during the year you use your insurance, like needing to have surgery on a broken leg, the hospital may ask you to pay your $8700 deductible first before they will perform your surgery. Even if they bill you, you still owe however many thousands! (Whatever your high bronze deductible is).

Now, if you would have gotten good advice and assistance and enrolled into a SILVER plan (when you are entitled to a cost sharing reduction), it’s possible your deductible could be as low as $0, or closer to $0 depending on what you qualify for. We’ve sadly seen it too many times that someone purchases the cheapest plan they can, not understanding that they were giving up, only to save themselves a few dollars a month.

Get Sound Advice From Nevada Insurance Enrollment

Choosing the right health insurance plan can be a stressful and tiring process. Call a local, licensed health insurance agent today at Nevada Insurance Enrollment. We will ensure you select the correct plan that fits your families needs and budget.

Related Articles:

♦ What Is A Health Insurance Deductible?

♦ Health Insurance Subsidy aka Advanced Premium Tax Credit

♦ Be Careful Stating Your Income For Health Insurance Subsidy

♦ The Federal Poverty Level and Your Health Insurance Subsidy

Read More: Health Insurance in Las Vegas, Nevada

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