Temekia: Well, with health care reform there will be four metal tiers. Platinum, gold, silver and bronze.

Steve: So for example, if you choose a platinum plan, your monthly premium would be higher and your cost-sharing would be lower in regards to medical services. As opposed to the bronze level, where your monthly premium would be lower but your cost-sharing would be higher in regards to medical services.

So for example, if you were to have a medical event, you’d have to pay a larger amount out of pocket for that event before the insurance company kicked in at 100 percent. As opposed to the platinum plan where you’d pay a lower portion for the medical event before the insurance company kicked in at 100 percent.

Temekia: Now the platinum plan is the most expensive plan, but it doesn’t necessarily mean that it’s the best plan. It’s based on individual’s needs and usage and how often you are visiting the doctor and the hospital. You’ll be able to access those plans either through independent agent, through an insurance carrier directly, or through the marketplace.

The information in this document is based on preliminary review of the national health care reform legislation and is not intended to impart legal advice. The federal government continues to issue guidance on how the provisions of national health reform should be interpreted and applied. The impact of these reforms on individual situations may vary. This overview is intended as an educational tool only and does not replace a more rigorous review of the law’s applicability to individual circumstances and attendant legal counsel and should not be relied upon as legal or compliance advice. As required by US Treasury Regulations, we also inform you that any tax information contained in this communication is not intended to be used and cannot be used by any taxpayer to avoid penalties under the Internal Revenue Code.