Why do Silver plans sometimes cost as much as Gold?
The quoting tool now includes a Silver tier, alongside Cost Saver (Bronze), Gold Standard and Low-to-No Deductible. If you compare Silver and Gold quotes, you may notice something surprising: Silver plans often cost about the same as Gold, and sometimes more. Here's why.
Silver loading
On the ACA marketplace, some lower-income enrollees get cost-sharing reductions (CSRs), which lower their deductibles and copays. CSRs are only available on Silver plans. When federal funding for CSRs stopped, most insurers began adding that cost to their Silver premiums. This is called "silver loading."
The result: in many areas, Gold plans (with better benefits, lower deductibles and lower copays) are priced close to, or even below, Silver plans.
What this means for your quotes
- Compare Silver and Gold Standard side by side. If they cost about the same for your client's team, Gold Standard usually gives employees more coverage for the money.
- Silver can still be the right fit. It's a familiar middle ground between Cost Saver and Gold Standard, and in some areas it's noticeably cheaper than Gold.
- Most employees on an ICHRA won't get Silver's subsidy advantages. An employee who accepts an ICHRA can't also get the premium tax credit, so the CSR benefits that make Silver attractive on the marketplace usually don't apply.
- Results vary by area. Silver loading differs by state and insurer, so check the average premium for each tier in the quote.