This tool helps individuals determine the health insurance plan that meets specific criteria within the Affordable Care Act (ACA) marketplace. It identifies the silver-tier plan with the second-lowest premium, often a key benchmark for subsidy calculations. For example, subsidies are frequently determined based on the cost of this specific plan. This approach helps ensure affordability and access to comprehensive coverage while minimizing out-of-pocket expenses.
Determining the plan with the second-lowest premium is essential for consumers seeking to maximize the value of premium tax credits. These credits can significantly reduce the cost of health insurance, making coverage more accessible. Historically, the second-lowest-cost silver plan has played a pivotal role in subsidy determination within the ACA marketplace. Understanding this plan’s premium is often crucial for accurate subsidy estimation and budgeting for healthcare expenses. This mechanism was designed to balance affordability with plan comprehensiveness.
