Ohio Insurance Laws and Regulations Practice Exam

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Study for the Ohio Insurance Laws and Regulations Exam. Prepare with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

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As classified by the Affordable Care Act (ACA), what does a Silver Plan offer?

  1. 60% actuarial level of coverage provided

  2. 70% actuarial level of coverage provided

  3. 80% actuarial level of coverage provided

  4. 90% actuarial level of coverage provided

The correct answer is: 70% actuarial level of coverage provided

A Silver Plan under the Affordable Care Act offers 70% actuarial level of coverage. This means that on average, the plan will cover 70% of the cost of covered medical expenses for a standard population. This option is incorrect because it offers less coverage than a Silver Plan. Option A is incorrect because it offers less coverage than a Silver Plan. Option C is incorrect because it offers more coverage than a Silver Plan. Option D is incorrect because it offers more coverage than a Silver Plan.

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