With the passing of the Affordable Care Act, individuals are required to maintain a qualified health care coverage plan that meets the ACA Minimum Essential Coverage (MEC) requirements. The Marketplace, also referred to as the Exchange, was created to provide access to various levels of plans that meet the MEC requirements. Various levels of plans were created to provide options based on level of coverage needed and cost of coverage. Below is a breakdown of the medal-tiered plans through the Marketplace.

Platinum Plan

  • Highest premium, lowest costs for you (Insurance company pays 90%, you pay 10% of medical bills)
  • Lowest deductibles, copays and coinsurance
  • Ideal for individual who may require frequent medical care

Gold Plan

  • High premium, low costs for you (Insurance company pays 80%, you pay 20% of medical bills)
  • Low deductibles, copays and coinsurance
  • Ideal for individual who may require frequent medical care

Silver Plan

  • Moderate premium, moderate costs for you (Insurance company pays 70%, you pay 30% of medical bills)
  • Deductible, copays and coinsurance lower than bronze plans
  • Ability to qualify for cost-sharing reductions. Only available with Silver Plans
  • Ideal for individual who may qualify for cost-sharing reductions or do not require frequent medical care

Bronze Plan

  • Lowest premium, highest costs for you (Insurance company pays 60%, you pay 40% of medical bills)
  • High deductibles, copays and coinsurance
  • Ideal for individual who may want a low-cost way to cover worst-case medical events and do not require frequent medical care

Catastrophic Health Plan

  • Lowest premium, highest costs for you (Insurance company pays 100% after you reach $6,850 deductible)
  • Only available to individuals under age 30, or individuals that qualify for a hardship exemption


Note: If you are also eligible for Premium Tax Credits (PTC) also referred to as subsidies, the subsidy may be applied to all levels of plans except for the Catastrophic Health Plan. To see if you are eligible for benefits such as Premium Tax Credits, use our ACA Subsidy Calculator. Learn more about coverage plans and health care enrollment by going to HealthCare.gov.

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To consult with a professional Liberty Tax ACA Advisor at your local Liberty Tax office, contact 800-673-8600 or visit HealthCareTaxInfo.com.