Cost Sharing Reduction under ACA

[Pogues]

When you can't find the answer to your question anywhere else...ask Rotojunkie!

Does anyone have any idea what they mean by Cost Sharing Reduction under the ACA? My family is selecting the proper level, meet the income level requirement, and they say we qualify for this, but I don't know what the heck they are talking about, specifically. All I can figure out is it is in addition to the reduction in the monthly premium.

Any insight would be great. Thanks!

[chancellor]

It's a discount that lowers the amount you have to pay out-of-pocket for deductibles and copayments. I don't think Bronze plans qualify.

[Pogues]

So it happens as we accumulate bills?

[chancellor]

So it happens as we accumulate bills?

If I understand you correctly, the discount should be applied to any deductible or co-pay you need to make for a health care visit under your plan. And that assumes you're not on a bronze plan since I'm pretty sure those don't qualify. For example, let's say you need to go to a specialist, and that visit has a $50 co-pay. Depending on your level of CSR, your co-pay could be reduced by $5 to $40.