CACs Affordable Care Act Basics 3

Question 1

Under the ACA, which metal tier plan has the HIGHEST actuarial value?

Accepted Answer

Platinum

Answer

Platinum plans have the highest actuarial value at approximately 90%, meaning the plan pays about 90% of covered medical costs on average.

Question 2

Cost-Sharing Reductions (CSRs) under the ACA are ONLY available with which metal tier plan?

Accepted Answer

Silver

Answer

CSRs are only applied to Silver plans; eligible individuals must enroll in a Silver plan to receive reduced deductibles, copays, and out-of-pocket maximums.

Question 3

A family of four with an income of 200% FPL applies for coverage. Which program should they FIRST be screened for?

Accepted Answer

Medicaid and CHIP before Marketplace plans

Answer

CACs must screen all applicants for Medicaid and CHIP eligibility first, as these programs may provide more comprehensive and cost-effective coverage.

Question 4

What is the primary purpose of the Summary of Benefits and Coverage (SBC) document?

Accepted Answer

To provide a standardized comparison of plan costs and coverage

Answer

The SBC is a standardized, easy-to-understand summary that allows consumers to compare plans based on key costs and coverage details.

Question 5

Which ACA provision allows young adults to remain on a parent's health insurance plan?

Accepted Answer

Young adult coverage up to age 26

Answer

The ACA requires plans that cover dependents to offer coverage to adult children up to age 26, regardless of student, marital, or financial dependency status.

(CACs) Certified Application Counselor Practice Test

(CACs) Certified Application Counselor Practice Test

CACs Affordable Care Act Basics 3