Question

According to the Affordable Care Act, what metal tier is required to have an actuarial value of 70% with covered individuals paying 30% through deductibles, co-pays, and other cost-sharing features?

a) Bronze
b) Silver
c) Gold
d) Platinum

Answer 1

The Silver plan is the ACA metal tier with an actuarial value of 70%, with covered individuals being responsible for the remaining 30% of the costs through various forms of cost-sharing.

Step-by-step explanation:

The metal tier of the Affordable Care Act (ACA) that is required to have an actuarial value of 70% with covered individuals paying 30% through deductibles, co-pays, and other cost-sharing features is the Silver plan. This is part of the ACA's four-tiered system to categorize health insurance plans based on their actuarial value, which is the percentage of total average costs for covered benefits that a plan will cover.

Other tiers include Bronze, Gold, and Platinum, each with different actuarial values and cost-sharing arrangements.