Sentences with phrase «actuarial value of a plan»

In fact, the higher the actuarial value of your plan, the more this tactic adds to your points balance.

The actuarial value of a plan tells you what percentage of health care costs that health insurance plan is expected to pay for its beneficiaries.

Not exact matches

(In Obamacare, a benchmark plan comes with an actuarial value of 70 %; a benchmark plan under the Senate's bill would have actuarial value of just 58 %, essentially putting far more financial onus on patients.)

Large groups» plans must provide «affordable coverage» — that is, the employer must cover at least 60 percent of the actuarial value of health care costs, and employee contributions must not exceed 9.5 percent of their income, whereas previously there was no such coverage quota.

When an individual retires under a DB plan, she is entitled to a stream of payments that has a lump - sum value that we calculate using standard actuarial methods (which take into account expected mortality patterns and adjust the sum of payments to reflect the fact that they are received over many years rather than at a single point in time).

Conversely, when a teacher retires under a DB plan, she is entitled to a stream of payments that has a lump - sum value (or present value) that can be readily determined using standard actuarial methods.

This information is used (together with other actuarial assumptions) to calculate the present value of a stream of expected future benefit payments for purposes of determining the minimum funding requirements for the plan.

It is based on the actuarial value of your entitlement plus the plan features and ancillary benefits such as inflation protection, early retirement options and survivor benefits.

Under § 156.420 (a), for each of its silver health plans that an issuer offers, the issuer must offer three variations of the standard silver plan that reflect, in addition to the applicable annual limitation on cost - sharing, the following: (1) A silver plan variation with cost - sharing reductions such that the actuarial value (AV) of the variation is 94 percent plus or minus the de minimis variation for a silver plan variation; (2) a silver plan variation with cost - sharing reductions such that the AV of the variation is 87 percent plus or minus the de minimis variation for a silver plan variation; and (3) a silver plan variation with cost - sharing reductions such that the AV of the variation is 73 percent plus or minus the de minimis variation for a silver plan variation.

For example, if the job - based health insurance your employer offers has an actuarial value of 72 %, you'd pick a couple of silver - tier Obamacare plans to compare it with since silver plans have an actuarial value close to your job - based plan.

The benchmark plan, which tends to be much more popular with enrollees, is a silver plan, which has an actuarial value of about 70 percent.

Silver plans are more financially protective and have an actuarial value of about 70 %.

If one plan is dramatically less expensive than the others, since they're all of similar actuarial values, the less expensive plan is the one that gives you the best bang for your buck.

For platinum - tier plans, the value is 90 percent (with a de minimus range of + / -2, which will expand to +2 / -4 in 2018, meaning that a platinum plan in 2018 will have an actuarial value in the range of 86 percent to 92 percent).

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.

So starting in 2020, the «standard» plan would have an actuarial value equal to the current bottom - of - the - ladder bronze plans.

In effect, a cost - sharing subsidy increases the actuarial value of your health plan without raising the premium.

Value, or actuarial value, tells you what percentage of covered health care expenses a plan is expected to pay for its membership as a wValue, or actuarial value, tells you what percentage of covered health care expenses a plan is expected to pay for its membership as a wvalue, tells you what percentage of covered health care expenses a plan is expected to pay for its membership as a whole.

Gold and Platinum plans have the highest monthly payments but also are the most protective if you get sick or need a lot of medical care: they have actuarial values of about 80 % and 90 %, respectively.

The size of a CRVM reserve, as with most life reserves, is affected by the age and sex of the insured person, how long the policy for which it is computed has been in force, the plan of insurance offered by the policy, the rate of interest used in the calculation, and the mortality table with which the actuarial present values are computed.

When the expenses of all of the plan's subscribers are totaled at the end of the year, a plan with an actuarial value of 80 percent should have paid 80 percent of the health care expenses of all of its beneficiaries together.

Out - of - network costs are not included in the determination of a plan's actuarial value, and neither are benefits that don't fall under one of the essential health benefit categories (virtually all medically necessary care is considered an essential health benefit, however)

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

A plan with an actuarial value of 60 percent is expected to pay approximately 60 percent of the health care costs of its beneficiaries.

A plan that has an actuarial value of 60 percent is designated as a bronze plan in the case of individual and small group health insurance, and meets the requirement for providing «minimum value» in the case of large group coverage.

Normally silver plans have an actuarial value of 70 %, but with the cost - sharing subsidy, your silver plans» actuarial value will range from 73 % to 94 % (depending on your income).

You know the actuarial value of all gold plans is the same, so your choice is being made based on how you'd like to use the insurance rather than on how much it's worth.

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).

Value, or actuarial value, tells you what percentage of covered health care expenses a plan would be expected to cover for an entire standard populaValue, or actuarial value, tells you what percentage of covered health care expenses a plan would be expected to cover for an entire standard populavalue, tells you what percentage of covered health care expenses a plan would be expected to cover for an entire standard population.

But in another oddity for 2018 coverage, gold plans in some areas are actually less expensive than silver plans (since the cost of cost - sharing reductions has been added to silver plan premiums), despite the fact that the gold plans have higher actuarial value.

The actuarial value tells you what percentage of covered health care expenses a plan is expected to pay for its membership as a whole.

Actuarial value is a measure of the percentage of health care costs that are paid by a health insurance plan.

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.

Because it's difficult for insurers to design plans that have a precise actuarial value, the ACA allows a de minimus range of + / -2.

If you're trying to save money by choosing a plan with a lower actuarial value, (like a bronze plan instead of a silver plan), be aware that you'll likely have higher coinsurance and copays when you use your health insurance.

A second strategy, and one that is very similar to the first one discussed, is to offer a comprehensive benefit plan with 60 % actuarial value, but the employer contributes very little to the cost of this group insurance.

Silver - tier plans offer a 70 percent actuarial value (range of 68 to 72 percent, extending to 66 to 72 percent in 2018).

This is a measure of actuarial value (the percentage of health costs that a plan is expected to cover across the full population of enrollees; the actual coverage percentage for a specific individual will depend on how much health care is used).