Final answer:
The statement "By prescribing minimum medical loss ratios in health plans, the ACA will limit the percentage of premium revenue a health plan can use for administration, marketing, and profits." is a) True because the ACA wants to control increases in healthcare costs.
Step-by-step explanation:
By prescribing minimum medical loss ratios in health plans, the Affordable Care Act (ACA) does indeed limit the percentage of premium revenue a health plan can use for administration, marketing, and profits. This statement is true. The ACA introduced several regulations to control increases in healthcare costs. For example, it sets a cap on the amount healthcare providers can spend on administrative costs.
Moreover, it encourages the adoption of electronic medical records (EMRs) to further reduce administrative expenses. However, it's important to note that if insurance premiums are set below the actuarially fair level for one group, the financial burden may shift to other insurance buyers or taxpayers to make up the difference.
Hence, the correct answer is Option A.