Slcsp stands for “Second Lowest Cost Silver Plan” and it’s a tool that people can use to help them estimate their health insurance premiums when they purchase insurance through the Health Insurance Marketplace. To calculate Slcsp, the cost of the second lowest-cost silver health plan available to a consumer in a particular region is used. This amount is then used to estimate how much the consumer would have to pay for a specific health plan when they go to buy it in the Marketplace.
When you go to buy a health plan, you’ll be able to compare the options available and see how much each option will cost. To calculate the Slcsp, all of the health plans with a certain metal level (like silver plans) will be compared and, of those, the plan with the second lowest premium cost will be used to estimate what you’ll pay for coverage.
Given that different regions and different health plans may have different costs, the Slcsp can only be used as an estimate and not as an exact amount. However, it can be a helpful way to set expectations when you’re shopping for a health plan. Depending on what plan you choose, the cost you end up paying may be higher or lower than the Slcsp amount.
