The financial help you can to lower out-of-pocket costs such as your copays or deductibles
If you’re eligible for a cost-sharing reduction, you can only access these savings if you enroll in a Silver plan.
Save with cost-sharing reductions in three different ways:
- You’ll have a lower deductible. This means the insurance plan starts to pay its share of your medical costs sooner.
- You’ll have lower copayments or coinsurance. These are the payments you make each time you get care. For example, if you qualify for a cost-sharing reduction and enroll in a Silver plan, you could pay $15 instead of $30 when you visit the doctor.
- You’ll have a lower “out-of-pocket maximum.” The cap will be lower on the amount you would have to pay in a year if you used a lot of care, such as a major surgery or accident.
Cost-sharing reductions are NOT tax credits. You could qualify for both a tax credit and cost-sharing.
You can find out if you qualify for a cost-sharing reduction based on your household size and income. If you do, you’ll see Silver plans listed first when you start shopping.