What are the levels of coverage specified by the Affordable Care Act?

The Affordable Care Act (ACA) specifies four levels of coverage known as Bronze, Silver, Gold, and Platinum. These tiers are designed to help consumers understand their healthcare options based on the percentage of healthcare costs covered by the insurance plan.

Under this system, Bronze plans cover approximately 60% of healthcare costs, Silver plans cover about 70%, Gold plans cover roughly 80%, and Platinum plans cover around 90%. This structure helps individuals compare plans based on their financial needs and expected healthcare usage. For example, those who anticipate needing more medical care may prefer a Gold or Platinum plan for greater coverage, while healthier individuals might opt for a Bronze or Silver plan to save on monthly premiums.

The other options, which include different classifications of insurance quality or types of health plans, do not correspond to the ACA's official tiers, emphasizing why Bronze, Silver, Gold, and Platinum is the correct characterization of the levels of coverage specified by the Act.