Sentences with phrase «actuarial value levels»

To make it easy for you to compare the value you're getting for the money you spend on health insurance premiums, the Affordable Care Act standardized actuarial value levels for health plans in the individual and small group market.

Not exact matches

While actuarial value doesn't tell you exactly what you will pay, understanding it can help you pick which level of plan is right for your health needs.

Bronze plans, which are the lowest level of coverage most people are required to maintain, have an actuarial value of about 60 %.

If you're under 30 and aren't eligible for premium subsidies, you might find that a catastrophic plan offers an even lower monthly premium, along with a slightly lower actuarial value (catastrophic plans don't have actuarial value targets the way metal level plans do; they must simply have actuarial values under 60 percent, although they must also cover three primary care visits per year and adhere to the same upper limits on out - of - pocket costs as other plans).

A plan's metal level is determined by its actuarial value (AV), which is a measure of the percentage of health care costs that the health plan will pay, averaged across an entire standard population.

Conceptually, the insurance company itself is indifferent to the premium payment method selected; all of these patterns of payment, if applied to the same level of death benefit and continued for the same duration of time, will have the same actuarial value.