In Madison and Wisconsin, silver health coverage plans are the most popular choice.

The Most Popular Health Coverage Plans in Wisconsin

Today, individual and family health coverage plans in WI are typically offered in five basic categories, from Catastrophic to Platinum. Catastrophic health coverage generally has the lowest premiums and the highest out-of-pocket costs, whereas Platinum plans generally have the highest premiums and the lowest out-of-pocket costs.


Overall, ​70 percent of people who signed up for health coverage as of ​March 31, 2016 on the Health Insurance Marketplace registered for Silver level health plans. That’s almost seven million people nationwide.


As of ​March 31, 2016, in Wisconsin, 71 percent of people signed up for a Silver level plan – more than 1​60,000 people.1

 

Why are Silver health plans the most popular?

Silver plans may be popular for two reasons –

  1. Ninety percent of Wisconsinites that bought health coverage on the health insurance marketplace received financial assistance in the form of Advanced Premium Tax Credits.2 How does this affect the number of Silver plans selected in WI?
    • Advanced Premium Tax Credits (APTC) are determined based on income, household size and the premium price of the second lowest-cost Silver plan. Most people choose the Silver plan because, when combined with APTC funds, the monthly premiums may be reduced to nearly zero. APTCs can also be applied to Bronze, Gold or Platinum plans. If applied to the higher level plans, the APTC will cover only a portion of the premium cost. Therefore, Silver level plans tend to offer the most value from Advanced Premium Tax Credits
    • Cost-Sharing Reductions, which help reduce out-of-pocket expenses, can only be used with Silver level plans
  2. Silver health coverage plans offer a good balance between low premiums and help with out-of-pocket costs.

Unity offers a variety of health coverage plans in WI at many different price levels. Shop our health plans and get a quote today.