What is the actuarial value of a bronze level health plan?

The actuarial value of a bronze level health plan is 60%. This percentage represents the average portion of healthcare costs that the plan is designed to cover for a typical enrollee. Specifically, it means that, on average, a bronze plan will cover 60% of the total healthcare expenses, while the enrollees are responsible for the remaining 40% through deductibles, copayments, and other out-of-pocket costs.

Bronze plans generally have lower premiums compared to silver, gold, and platinum plans, but they also come with higher deductibles and out-of-pocket maximums. This structure is designed to appeal to individuals who do not anticipate needing frequent medical care but still want a level of coverage to help with unexpected expenses.

Understanding these actuarial values is essential in evaluating health plan options, as they provide insight into how much insurance coverage a consumer can expect against their potential healthcare expenditures.