Ohio Insurance Laws and Regulations Practice Exam

Under the Affordable Care Act, which of these plans is designed to provide coverage that is actuarially equivalent to 80% of the full actuarial value of the benefits provided under the plan?

1. Gold

2. Silver

3. Bronze

4. Platinum

The correct answer is: Gold

Under the Affordable Care Act, there are different metallic level plans that serve as a benchmark for the level of coverage and costs associated with each plan. Out of all the metallic level plans, the Gold plan is the one that provides coverage that is actuarially equivalent to 80% of the full actuarial value of the benefits provided under the plan. This means that the Gold plan has a higher level of coverage compared to the Bronze or Silver plans. The Platinum plan, on the other hand, has a higher level of coverage compared to the Gold plan, providing coverage that is actuarially equivalent to 90% of the full actuarial value of the benefits provided under the plan. Therefore, the Platinum plan is not the correct answer as it is not designed to provide coverage equivalent to 80% of the full actuarial value of benefits. The same explanation applies for the Silver