Under ACA classifications, which plan tier is commonly associated with a 70% actuarial value?

• A. Bronze
• B. Gold
• C. Platinum
• D. Silver

Answer: (D)

Actuarial value shows how much of covered medical costs a plan pays on average in a year, with the enrollee covering the rest through deductibles and coinsurance. The ACA uses metal tiers to group plans by this value: Bronze around 60%, Silver around 70%, Gold around 80%, and Platinum around 90%. So a plan with about 70% actuarial value is a Silver plan. It sits in the middle, offering a balance between a relatively lower premium and reasonable cost-sharing. (Note that some people may qualify for cost-sharing reductions on Silver plans, which can lower out-of-pocket costs even further, but the 70% figure refers to the standard actuarial value.)