This is the first of three posts on this subject
To increase transparency, plans offered under the ACA are given metal levels based on how the cost of care is split between an individual and their health plan. Silver plans must cover 70% of a typical population’s healthcare costs, but plans can use a wide variety of different cost-sharing structures to arrive at this 70%. The deductible – the amount the individual must cover before their plan begins to pay – is one factor that can make a big difference to out-of-pocket costs.
The data science team at Vericred analyzed deductibles for small group silver plans to see how they vary by state. The national median deductible for silver plans is $3,000, but the results show that there is substantial geographic variation ranging from only $2,000 in Massachusetts and California to $4,250 in New Mexico and Iowa.