The Patient Protection and Affordable Care Act, also known as Obamacare, has given millions of Americans new insurance options to consider, and most people know about the new bronze, silver, gold, and platinum tiers that are available. But until now, it's been hard to know exactly what Obamacare gold plans would look like in real life.

In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at Obamacare gold plans and what kind of coverage you can expect from them. Dan notes that the idea behind the gold tier is that insurance companies pay 80% of expected costs while you pay 20%, but that doesn't mean all your expenses are split 80/20. In looking at various plans offered in California, Massachusetts, and Connecticut, Dan observes that from state to state and even from plan to plan within given states, policies can vary widely. For instance, in Connecticut, gold plans come with $1,000 deductibles, $20 copays for doctor visits, and a $3,000 out-of-pocket maximum. Massachusetts has a broader range of policies, with deductibles running from $500 to $2,000, doctor visits from $20 to $30, and out-of-pocket maximums from $3,000 to $5,000. Dan concludes that you have to pick based on your own health experience and finances to find the best choice for you.

You really can figure out Obamacare
Figuring out the difference between Obamacare gold plans and other coverage levels might make the Affordable Care Act sound complicated, but it doesn't have to be. In only minutes, you can learn the critical facts you need to know in a special free report called "Everything You Need to Know About Obamacare." But don't hesitate, because it's not often that we release a free guide containing this much information and moneymaking advice. Please click here to access your free copy.


The article Obamacare Gold Plans: What to Expect originally appeared on Fool.com.

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