What term is used to describe the four types of insurance plans offered by the ACA quizlet?

Plans in the Marketplace are presented in 4 health plan categories: Bronze, Silver, Gold, and Platinum. (“Catastrophic” plans are also available to some people.)

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How you and your insurance plan split costs
Which health plan category is right for you?
Your premium can be lower, based on your income

FYI Health plan categories are based on how you and your plan split the costs of your health care. They have nothing to do with quality of care.

How you and your insurance plan split costs

Estimated averages for a typical population. Your costs will vary.

Plan Category	The insurance company pays	You pay
Bronze	60%	40%
Silver	70%	30%
Gold	80%	20%
Platinum	90%	10%

Which health plan category is right for you?

Bronze

Lowest monthly premium
Highest costs when you need care
Bronze plan deductibles — the amount of medical costs you pay yourself before your insurance plan starts to pay — can be thousands of dollars a year.
Good choice if: You want a low-cost way to protect yourself from worst-case medical scenarios, like serious sickness or injury. Your monthly premium will be low, but you’ll have to pay for most routine care yourself.

Silver

Moderate monthly premium
Moderate costs when you need care
Silver deductibles — the costs you pay yourself before your plan pays anything — are usually lower than those of Bronze plans.

Good choice if: You qualify for “extra savings” — or, if not, if you’re willing to pay a slightly higher monthly premium than Bronze to have more of your routine care covered.

Gold

High monthly premium
Low costs when you need care
Deductibles — the amount of medical costs you pay yourself before your plan pays — are usually low.
Good choice if: You’re willing to pay more each month to have more costs covered when you get medical treatment. If you use a lot of care, a Gold plan could be a good value.

Platinum

Highest monthly premium
Lowest costs when you get care
Deductibles are very low, meaning your plan starts paying its share earlier than for other categories of plans.
Good choice if: You usually use a lot of care and are willing to pay a high monthly premium, knowing nearly all other costs will be covered.

Find out how to use total costs of care to pick a category and plan that work for you.

Note: Plans in all categories provide free preventive care, and some offer selected free or discounted services before you meet your deductible.

Your premium can be lower, based on your income

No matter which health plan category you choose, you can save a lot of money on your monthly premium based on your income.

When you fill out a Marketplace insurance application, you’ll find out if you qualify for these savings. Learn how you can save on your monthly insurance bill with a premium tax credit.

You can do a quick check now to see if your income’s in the range to qualify.