Switching to a Gold Plan Could be a Smart Move

Changes are coming for some health plans available through Vermont Health Connect, the state’s health insurance marketplace. Certain Silver plan premiums will go up substantially more than the other “metal levels”, such as Bronze and Gold plans. As a result, members may find more value in switching to a Gold plan, which offers better benefits for less money than Silver plans.

If you’re currently enrolled in one of our Silver plans through Vermont Health Connect (VHC), you will want to explore your health plan options and consider switching to a Gold plan during the upcoming Open Enrollment period, beginning November 1, 2024. For 2025, Gold plans will be less expensive than Silver plans. Making this change could help you lower costs and enjoy better health plan benefits.

What’s Happening

On the VHC marketplace, Vermont has employed a tactic called “Silver loading” to help Vermonters save money. The federal government’s premium tax credits are based on the cost of Silver plans’ premium. Through “Silver loading”, the premium amount for Silver plans are increased to allow Vermonters to receive more tax credits and lower their monthly premium cost. For 2025, Vermont has further increased “silver loading”.

The good news is this upcoming change for 2025 means our Gold plans will provide you with more value. By enrolling in a Gold plan, you’ll have a lower monthly premium than a Silver plan, and your out-of-pocket costs, such as deductibles and copays, could also be lower.

To make this transition easier, we will automatically move certain members to a Gold plan with similar coverage. If you are one of these members, you will be notified in your renewal letter mailed after October 15, 2024. If you prefer a different plan, you can still change plans during Open Enrollment. All changes to your health plan will go into effect on January 1, 2025.

If you receive financial help in buying health insurance through VHC, you can still use that assistance to purchase a Gold plan.

What to Do

Here are a few things you can when the Open Enrollment period starts to have the smoothest experience possible.

• Keep an eye on your mailbox. We will be sending information about our 2025 plans to members currently enrolled through VHC. Please be sure to open and read this important information.
• Update your VHC account. The amount of financial help you receive through VHC is based on your federal income tax return. Please make sure VHC has your up-to-date and correct information on your income and household size. To review and make changes, visit VermontHealthConnect.gov or call them at (855) 899-9600.
• Estimate your 2025 financial help amount. Once you’ve updated your information with VHC, you can get an estimate of how much financial help you’ll receive to purchase a health plan in 2025. You must remain enrolled through VHC to get this help.
• Contact us if you are no longer eligible for financial help. If you previously were enrolled through VHC and are no longer eligible for financial help (or choose not to receive it), you can still enroll in a plan directly with Blue Cross VT. To learn more, call us at (800) 255-4550 (TTY/TDD: 711) or visit bluecrossvt.org/QHP.
• Understand your health plan options. Take a few minutes to look at the different plans available for 2025 to shop and compare benefits and premiums. To make this easier, you can use our online Shop & Compare Plans tool. As we mentioned earlier, be sure to check out the Gold plans and compare their premiums, cost-sharing, and benefits to Silver plans to see how much you can lower your costs.
• Cost-Sharing Reduction (CSR) Plans. If you are enrolled in one of these plans, also referred to as Enhanced Silver plans, you may find that staying with a Silver plan is still the best option for you and your family. We encourage you to compare all health plan options using our online Shop & Compare Plans tool, or give us a call to talk through your situation.
• Attend an Open Enrollment webinar. We’ll be hosting webinars to discuss health insurance basics, 2025 plan changes, and how to choose a plan that best meets your needs.
• Contact us with questions. We’re here to answer all your questions and help you make the choice that’s right for you and your family. Call us at (800) 255-4550 (TTY/TDD: 711), we’re available Monday-Friday from 8 a.m. to 4:30 p.m. You can also email us at consumersupport@bcbsvt.com.
• Select a plan by the deadline. If you are enrolling for the first time or changing plans on VHC, let them know before the January 15, 2025 deadline date. 

The most important thing to remember: Look carefully at your plan options for next year, if you buy your health plan through VHC. You may find that switching from Silver to Gold is a winning move for you!