Affordable Care Act
Under the Affordable Care Act (ACA or “Obamacare”), each health insurance plan is assigned a metallic level. The bronze, silver, gold, and platinum benefit levels actually refer to a plan’s actuarial value (AV) level.
In 2018, all major medical health insurance plans for individuals and small employers are still assigned bronze, silver, gold, and platinum benefit levels. As mentioned above, the bronze, silver, gold, and platinum levels refer to a plan’s actuarial value (AV).
Actuarial value is the percentage of total average costs for the benefits a plan covers within a given year. For example, a plan with a 70% actuarial value (a silver level plan) covers 70% of covered medical expenses up to their plan’s out-of-pocket maximum.
The graphic below shows the percentage of metallic plan levels chosen by eHealth customers.
|eHealth’s 2017 Index Report|
|Plan’sMetallic Level||Average Premium for Individual Plan||Average Deductible for Individual Plan||Average Premium for Family Plan||Average Deductible for Family Plan|