CACs Marketplace Plan Options 2

Question 1

Which metal tier plan typically has the lowest monthly premium but the highest out-of-pocket costs when care is needed?

Accepted Answer

Bronze

Answer

Bronze plans have the lowest premiums but require enrollees to pay more out-of-pocket when they use healthcare services.

Question 2

A client wants a plan where their insurer pays about 80% of covered costs on average. Which metal tier should they choose?

Accepted Answer

Gold

Answer

Gold plans are designed so the insurance company pays roughly 80% of covered healthcare costs on average.

Question 3

What is the actuarial value of a Platinum plan?

Accepted Answer

90%

Answer

Platinum plans have an actuarial value of 90%, meaning the insurer covers about 90% of covered medical costs on average.

Question 4

Which plan type is ONLY available to people under age 30 or those who qualify for a hardship or affordability exemption?

Accepted Answer

Catastrophic

Answer

Catastrophic plans are restricted to individuals under 30 or those who qualify for specific exemptions.

Question 5

Cost-Sharing Reductions (CSRs) are ONLY available to eligible enrollees who select which metal tier?

Accepted Answer

Silver

Answer

CSRs are exclusively applied to Silver plans, reducing deductibles, copays, and out-of-pocket maximums for eligible low-income enrollees.

(CACs) Certified Application Counselor Practice Test