What do the plan tiers (Bronze, Silver, Gold, Low-Deductible) mean?
When your broker builds your quote, or when you set up your allowance with Smart Rates, you'll see four plan tiers: Bronze, Silver, Gold and Low-Deductible. The tier is a benchmark that helps set how much you contribute. Here's what each one means and how to pick the right one for your team.
Good to know: the tier doesn't limit your employees. They can still use their allowance on any qualifying individual health plan they choose. The tier only shapes how much you offer.
The four tiers
| Tier in your portal | On your broker's quote | What it means | Good for |
|---|---|---|---|
| Bronze | Cost Saver | Lowest premiums, highest deductibles | Keeping costs down, or a younger, healthier team |
| Silver | Silver | Moderate premiums and deductibles | A middle-ground option |
| Gold | Gold Standard | Higher premiums, lower deductibles and copays | Strong coverage, similar to many group plans |
| Low-Deductible | Low-to-No Deductible | Highest premiums, little or no deductible | The most generous, predictable benefit |
How the tier affects your allowance
- With Smart Rates, you choose a percentage and a tier, for example "75% of Silver." Each employee's allowance is that percentage of their own premium for that tier, based on their age and where they live. Richer tiers cost more, so the same percentage means a bigger allowance and a higher total cost for you.
- With a flat amount, the tier on your quote shows which plans your broker used to suggest the amount. Every employee gets the same dollar amount.
When you set up Smart Rates, your portal shows your estimated monthly total and the range of allowances for each tier, so you can compare before you finish.
How to choose
- Start with your budget. If you have a set amount to spend, Bronze or Silver lets your allowance cover more of each employee's premium.
- Think about your goal. Keeping costs low? Bronze. Replacing a group plan with similar coverage? Gold. Standing out to recruit and keep people? Low-Deductible.
- Think about your team. Older employees, families, or people who see doctors often usually get more value from Gold or Low-Deductible.
- Check Silver before you choose it. Silver isn't always the cheaper middle option. Because of "silver loading," Silver plans can cost as much as, or even more than, Gold plans, and how much depends on your market: your state, county and the insurers there. Compare the two in your portal, and ask your broker or our team whether Silver is the best option for you. See Why do Silver plans sometimes cost as much as Gold?
- Ask your broker or our team. We're happy to walk through the options with you.