• Trevor Davis

What is the Health Insurance Marketplace?


The Marketplace is a federal government website designed to help people shop for and enroll in affordable health insurance. Private insurance companies will have plans on the Marketplace, so there will be many different types and pricings with plans on the Marketplace.




Payments with plans on the Marketplace are based on your expected household income for the year. You may qualify for a tax credit that lowers your monthly insurance bill, and for extra savings on costs such as deductibles and copayments.

The plans they have are categorized in the metal tiers of Bronze, Silver, or Gold plans. Plans under each of the metal tiers of Bronze, Silver, or Gold are required to cover a certain percentage of your healthcare cost.


  • Bronze covers around 60%

  • Silver covers around 70% unless you are eligible for a cost-sharing reduction subsidy.

  • Gold covers around 80%



Bronze and Gold Plans are pretty straight forward on this point. Bronze will pay 60 percent and you pay 40 percent. Gold will pay around 80 percent you pay around 20 percent.

Silver plans are different. You may be eligible for a cost-sharing reduction subsidy. Depending on your income, meaning that you could qualify for a silver plan that covers about 73, 87 or 94 percent of your health care costs.

The Metal tiers will also give you a general idea of your out of pocket cost, and monthly cost, although if you qualify for tax credits your monthly payment can be reduced.


  • Bronze plans have lower monthly payments, but higher out-of-pocket costs.

  • Silver plans generally have monthly payments lower than a gold plan, but more than bronze. Your out-of-pocket costs will be less than a bronze plan, but more than a gold plan, unless you're eligible for a cost-sharing reduction.

  • Gold plans have higher monthly payments, but lower out-of-pocket costs.


I’m sure you’ve noticed that there is a lot to the Marketplace between the number of plans and the pricing of them, It can get confusing and hard to navigate through. Here at Lion’s Pride Insurance, our services come at no extra cost to you. Why would you look through all those plans on your own? Our agents can do the hard work for you and find a plan that fits your needs for no extra cost to you.

If you have any questions about the Marketplace or how our agents can help you navigate all the plans to help you find the best one for your needs. Feel free to contact us we’d love to hear from you.

Our agents can do the hard work for you and find a plan that fits your needs for no extra cost to you.

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