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Standardized Levels of Coverage in 2014 – Metal Level Plans

What are “Metal Levels”?

Under the Affordable Care Act (ACA), all non-grandfathered health plans offered in the small group market for plan years beginning on or after January 1 2014 (at your groups next renewal) – both inside and outside of the Exchange – will be required to provide four standardized levels of coverage. These are also referred to as the “Metal Levels”: Bronze, Silver, Gold and Platinum.

The four metal levels of coverage are based on the “actuarial value”, which indicates the percentage of health costs that would be covered by the health plan for an average population.

·         Bronze  – 60 percent covered by plan benefits; 40 percent covered by the consumer

·         Silver  – 70 percent covered by plan benefits; 30 percent covered by the consumer

·         Gold – 80 percent covered by plan benefits; 20 percent covered by the consumer

·         Platinum  – 90 percent covered by plan benefits; 10 percent covered by the consumer